Ambev gearing up for a possible run

٢ يونيو ٢٠١٩

Ambev is one of the new companies that I have been tracking for a while now. Based out of São Paulo, this brewing company has shown promise nearing the end of the month of May (2019). From the 1st till the 20th, the stock plummeted following a massive sell-off signal from the MACD indicator. The stock also experienced a sharp surge on the 21st that saw the price per stock go up 4.16% in one day. Ever since it has been exponentially increasing. As far as the RSI goes, it plateaued from the 22nd to the 28th but since has shown a sharp and continuous rise. The Macd indicator also shows a buy signal being triggered on the 28th. I can see the position rise to about 4.60 within the next couple of days and even within the next week we might see it break the proposed resistance line.