See how the Rectangle is playing out for MNST. View live chart.
Sideways movement between parallel supports.
Bearish continuation pattern.
Bearish continuation if preceding move was down.
Market participants tracking Monster Beverage should note the latest formation. Currently at $75.07, the asset is showing downward momentum (-0.13%). Price action has carved out a classic Bearish Flag. The trend indicator is reading 16.8/100, suggesting moderate momentum. A potential breakout level is identified at $70.86, targeting $54.34 with support near $76.93 (R:R 2.72).
What is your outlook on MNST?