Monster Beverage: Breakout and Pullback

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Monster Beverage broke out to a new all-time high in May, and now it’s pulled back.

The first pattern on today’s chart is the March 2024 high of $61.23. The maker of energy drinks hesitated at that level in early May but pulled back to hold it last week. Has old resistance become new support?

Second, MNST is …

For more, please click here to view the related idea and chart analysis on TradingView.

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Monster Beverage (MNST), daily chart, with selected patterns and indicators, courtesy of TradingView.

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David Russell

David Russell is Global Head of Market Strategy at TradeStation. Drawing on more than two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.
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