Boston Beer Company, Inc. Has Been Crushed, Watch This Level

Boston Beer Co, Inc. (SAM) has been absolutely decimated on the charts over the past year. The popular beer and alcoholic beverage stock topped out in April 2021 at $1349.98 a share. Since that major top, the stock has collapsed and has recently been trading at around $457.89 a share.

Traders and investors should note that this stock is sharply below its important 50- and 200-day moving averages. In fact, this stock has even been trading below its 50-month moving average, and that is another sign of near-term weakness and lower share prices.

The next major support level for Boston Beer Co, Inc. stock will be around the $350.00 level. This key support area is also where the stock broke out of a long sideways base back in late March 2020. Often, when stocks have severe declines they will be defended by the institutional crowd around prior breakout levels. I will look to be a long side buyer when this major support area is tested.

Disclaimer: All comments made by InTheMoneyStocks, LLC and its subsidiaries, instructors, and representatives are for educational and informational purposes only and should not be construed as ...

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.