Boston Beer (SAM) could be turning things around, or at least that's what the daily chart is suggest.
SAM Daily Chart 11/30
- The daily chart shows that since early 2015, SAM has been falling. Price fell from about 325 in 2015 to a low just above 145 in 2016.
- Note that in 2016, the 145 support held twice, which is a break from the prevailing pattern of lower lows.
- Other than that, we can see price breaking above a falling trendline.
- This breakout opens up the 195-200, a key support/resistance pivot area.
- Now, we should start to see support around 170. This would reflect bulls taking over in the short-term, within the context of a medium-term sideways market.
- A break above 202 would be needed to open up a larger bullish outlook.