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- 3/15/2024 -
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Molson Coors Brewing Company (TAP) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range is overboughtBroken trend resistance line
Daily :Lane's Stochastic is overboughtThe price is above the upper Bollinger Band
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It was a second consecutive positive week for the Molson Coors Brewing Company (TAP). During the week, the TAP gained 2.91 points, or 4.51%, and closed at 67.47 on Friday, March 15, 2024. Weekly volume was 13% above average.

Long-term trend: [See TAP long-term trend chart]
A long-term uptrend had started on September 24, 2020 at 32.11 and reached 70.90 on July 26, 2023. TAP gained -38.79 points, or -120.80%, in 147 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 64.85 and resistance is at 73.74. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a long-term trend.

Medium-term trend: [See TAP medium-term trend chart]
A medium-term downtrend had started on July 26, 2023 at 70.90 and reached 55.67 on November 2, 2023. TAP lost 15.23 points, or 21.48%, in 14 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (60.19) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. TAP may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See TAP weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.

The weekly MACD line is above its signal line since January 5, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.

Short-term trend: [See TAP short-term trend chart]
A short-term uptrend had started on February 7, 2024 at 58.90 and reached 67.57 on March 15, 2024. TAP gained -8.67 points, or -14.72%, in 37 days. Price is near the trend high.

Daily Technical Indicators: [See TAP daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since February 15, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term uptrend is strong.

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 79.38
Williams' Percentage Range (W%R) 33.50
Lane's Stochastic (%D-Slow) 88.43
Overbought
Greed/Fear Indicator (GFI) 78.09
Moving Average Converg./Diverg. (MACD) 0.70
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 67.77
Williams' Percentage Range (W%R) 17.20
Overbought
Lane's Stochastic (%D-Slow) 72.85
Greed/Fear Indicator (GFI) 71.41
Moving Average Converg./Diverg. (MACD) 0.30
Trading Signals
Description Value Chart
Yearly Trendline Resistance 73.74
Price 67.47
Upper Bollinger Band 67.28
Daily Stochastic Crossing 66.98
Weekly Stochastic Crossing 65.78
Parabolic System 65.00
Yearly Trendline Support 64.85
20 Day Moving Average 63.66
50 Day Moving Average 62.77
Lower Bollinger Band 60.83
Quarterly Trendline Support 60.19
Quarterly Trendline Resistance 60.06
Sector and Industry
Description Name Rank
Sector Consumer Staples 4
Industry Brewers 91
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 61.52
Low Date 03/01/2024
High 67.57
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 58.90
Low Date 02/07/2024
High 67.57
High Date 03/15/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 55.67
Low Date 11/02/2023
High 67.57
High Date 03/15/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 60.06
Support 60.19
High 70.90
High Date 07/26/2023
Low 55.67
Low Date 11/02/2023
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 73.74
Support 64.85
Low 32.11
Low Date 09/24/2020
High 70.90
High Date 07/26/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.