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Uptrend Broken SupportArchive
- 4/19/2024 -
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Monster Beverage (MNST) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Monster Beverage (MNST). During the week, the MNST dropped -1.87 points, or -3.40%, and closed at 53.14 on Friday, April 19, 2024. Weekly volume was 47% above average.
 Long-term trend: [See MNST long-term trend chart]
A long-term downtrend had started on February 16, 2023 at 105.45 and reached 47.13 on October 13, 2023. MNST lost 58.32 points, or 55.31%, in 34 weeks. The price is now at the 10.31% retracement level.
 Medium-term trend: [See MNST medium-term trend chart]
A medium-term uptrend had started on October 13, 2023 at 47.13 and reached 61.23 on March 13, 2024. MNST gained -14.10 points, or -29.92%, in 21 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (59.91) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. MNST may retest the broken support line. It is considered to be a resistance 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 support in a medium-term trend.
 Weekly Technical Indicators: [See MNST weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold 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 July 7, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
Short-term trend: [See MNST short-term trend chart]
A short-term downtrend had started on April 17, 2024 at 55.11 and reached 52.74 on April 19, 2024. MNST lost 2.37 points, or 4.30%, in 2 days. The price is now at the 16.88% retracement level.
 Daily Technical Indicators: [See MNST daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index and Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Daily Relative Strength Index, Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following links to access Lane's Stochastic and Relative Strength Index help.
The daily MACD line is below its signal line since March 21, 2024. This is an indication that the short-term trend is down.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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