Something In The “Water”:
That is referring to the energy drink names. MNST rose modestly after the news with STZ Monday morning. It filled in the gap on 11/18 from the 11/4 session and is trying to hold the round 90 number while it is caught between its 50 and 200-day SMAs at the moment. Meanwhile, STZ is building the right side of a cup-base in a pattern 6 months long, advancing 6 of the last 8 weeks. Below is the chart of CELH, which should be treated purely as SPECULATION. There is a belief that it may have energized numbers, pun intended, but of course, no one knows the real story until it comes out. From a purely technical standpoint, it is offering decent risk-reward here as the stock has been shaved by a third of its value during the month of November. The last couple weeks dropped by a combined 35%, each in well above average WEEKLY volume, both in the largest trade in the more than 5 months. It is bouncing where it needs to be, but do not try and be a hero here under the circumstances. Trade very small with this situation.