If you are looking for a good stock to invest in then read on as this stock could bring you monster profits. As a value investor, you should invest in a company long term. Monster Beverage is giving mixed signals. The short term chart shows the complex head and shoulder pattern. This head and shoulder pattern means a break to the downside. A downside break can give a better price.
According to Ross, the there’s one technical pattern that spells trouble for Monster—a complex head-and-shoulders, or a distributive-pattern comprising two smaller head and shoulders. “When we zoom out you can see while we’re clinging to key support at the neckline of that pattern.”
Ross advised that better support could be held at the stock’s 150-week moving average, around $59 to $60 per share. “I would not own it right in here I don’t like the stock.”