1.) Short term 20 day MA is flat-to-down. 2.) Mid term 50 day MA is flat-to-down 3.) Long term 200 MA is down
Price action wise, the stock is forming am acute sharp triangle. This usually may results in a break-out to the top or bottom.
If the stock indeed is broken up, then the next resistance is somewhere $0.51 level.
If the stock is broken down, errr, this will be quite ugly.
I personally lean towards the positive, given that CCU has suffered so much bad news recently. Fundamentally the company is progressing well albeit slowly. Another note is all silver producers at global level are not facing good sentiment, so we will also need to watch the global sentiment towards this sector.
Just my 2 cents. Cheers.
CCU Price at posting:
37.4¢ Sentiment: Hold Disclosure: Held
