Boston Beer Crosses Below its 10-day MA (SAM)

Published on Fri, 07/31/2015 - 12:45
By Mallory Stone in Moving average crossovers, SAM, boston beer, moving crosses, nyse:sam

Today, shares of Boston Beer (NYSE:SAM) have fallen below their 10-day MA of $221.57 on a volume of 318K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Boston Beer share prices have been bracketed by a low of $210.03 and a high of $325.00 and are now at $219.70, 5% above that low price. The 200-day and 50-day moving averages have moved 0.04% higher and 1.38% lower over the past week, respectively.

Boston Beer (NYSE:SAM) has potential upside of 21.1% based on a current price of $219.70 and analysts' consensus price target of $266.00. The stock should find initial resistance at its 50-day moving average (MA) of $240.70 and further resistance at its 200-day MA of $264.28.

The Boston Beer Company, Inc. produces a variety of craft-brewed beers and cider products at various contract breweries and Company-owned breweries. The Company sells its products under brand names such as Boston Beer Company, Oregon Beer and Brewing Company, Samuel Adams, and HardCore. Boston Beer sells its products to a network of wholesale distributors.

By Mallory Stone
mstone@fnno.com

Latest News from FNNO

Waddell & Reed Financial: The Losing Str...

Waddell & Reed Financial (NYSE:WDR) traded at a new 52-week low today of $36.50. So fa ...

Shares of Valhi Fall to a New 52-Week Lo...

Shares of Valhi (NYSE:VHI) traded at a new 52-week low today of $2.33. So far today ap ...

Tim Participacoes: New 52-Week Low Set T...

Tim Participacoes (NYSE:TSU) traded today at a new 52-week low of $11.01. This new low ...

Shares of TransAlta Have Fallen Below Pr...

TransAlta (NYSE:TAC) traded today at a new 52-week low of $4.63. So far today approxim ...

Boston Beer: The Losing Streak Continues...

Shares of Boston Beer (NYSE:SAM) traded at a new 52-week low today of $195.04. So far ...

Shares of Saia Fall Below Previous 52-We...

Saia (NASDAQ:SAIA) traded today at a new 52-week low of $35.45. Approximately 256,000 ...

Shares of PetroChina Fall to a New 52-We...

PetroChina (NYSE:PTR) traded today at a new 52-week low of $76.29. This new low was re ...

Omega Healthcare Investors: The Losing S...

Omega Healthcare Investors (NYSE:OHI) traded at a new 52-week low today of $32.66. App ...