Stock of the day: Anheuser-Busch InBev

By Tomasz Wisniewski|

Published: November 17 2022, 09:40 GMT+0

Stock of the day: Anheuser-Busch InBev


In today’s Stock of the Day, and for the first time, we’re looking at Anheuser-Busch InBev. Sounds familiar? That’s because it’s very likely that you know their products: Corona, Budweiser, Stella Artois and Beck’s. ABI is traded on the European Euronext and is currently having a very nice bullish situation.

For months, ABI was locked inside of a descending triangle formation (yellow, blue), which by the end of September, had resulted in a breakout to the downside. The breakout happened to be a false one (green) and resulted with a comeback inside of the triangle and a rapid rise. As a consequence, the price managed to break the blue down trendline and is currently trading above it (orange).

ABI being above that resistance for several days now is definitely a positive sign. As long as we stay above the blue line the buy signal is ON. The price dropping below would be a signal to sell but that scenario is currently less likely to happen.