We are using STZ in my son's account along with JAPAY and TTWO & SOFI>
(he likes Corona)
Constellation Brands Could Attract Thirsty Bulls
May 22, 2023 | 11:00 AM EDT
Stocks quotes in this article:
STZ
In full disclosure, I had a Modelo beer Sunday evening at a waterside restaurant not far from the summer White House. I liked it along with the band and the sand between my toes. All this good feeling caused me to check out the charts of Constellation Brands (
STZ) .
In this daily bar chart of STZ, below, I can see that prices made a low in January and a successful retest in March. STZ has rallied and now trades above the rising 50-day moving average line and just closed above the 200-day line.
The On-Balance-Volume (OBV) line made a low in January and a higher low in March. The Moving Average Convergence Divergence (MACD) is in a bullish trend above the zero line.
In this weekly Japanese candlestick chart of STZ, below, I can see that prices have successfully held the $210 area before the recent rally. The $210 area has become serious chart support over the past two years. STZ is above the 40-week moving average line.
The OBV line has been stable the past two months. The MACD oscillator has crossed to the upside for a cover shorts buy signal.