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.