MNST closes within previous day's range
Monster Beverage (MNST) Technical Analysis Report for Oct 12, 2018
MNST finished the week -5.16% lower at 53.29 after gaining $0.46 (0.87%) today, significantly underperforming the Nasdaq 100 (2.77%). Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range.
Daily Candlestick Chart (MNST as at Oct 12, 2018):
Friday's trading range has been $1.45 (2.74%), that's above the last trading month's daily average range of $1.20. Weekly volatility is also higher, being way above the market's average weekly trading range. The longer-term, monthly volatility is currently strongly higher than usual for MNST.
Crossing above the lower Bollinger Band, prices have lost at least some of their downward momentum in the short-term and could now be heading back up towards the mean of the Bollinger Bands at 57.31. The last time this happened on October 5th, MNST gained 0.53% on the following trading day.
Though still in a long-term uptrend, the short and medium-term trends both turned bearish already.