Resistance

Daily

Monster

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>MNST stock formed an inverted hammer candlestick in the last session.</a> </li> 
 <li> <span>2</span> <a>MNST stock is trading above the key moving averages showing strength on the charts.</a> </li> 
</ul> 
<p>Monster Beverage Corporation (MNST stock) price has sustained above the cluster of $50 indicating that past sessions were bullish. Buyers survived the hawkish selling pressure post disappointing Q2 earnings; the neckline of $55 was respected in the last session. Moreover, MNST stock formed a bullish pennant pattern the neckline of which is near $60, which buyers try to smash.</p> 
<p>At the start of 2023, MNST stock price consolidated in a narrow range. Afterward, the stock showed a sharp up-move after the neckline broke out of $52, trapping sellers. A short covering move led to the massive rally shown on the charts.</p> 
<p>The price action shows that MNST stock is trading in a bullish trajectory. However, the price faces the trendline, which acts as a barrier and pauses near $58. Furthermore, the buyers persist in accumulating and could surge past the primary hurdle of $60.</p> 
<p>At press time, MNST stock price is trading at $58.10 with an intraday gain of 1.03% showing bullishness in yesterday’s session. Moreover, the intraday trading volume remained at 3.876 Million, and the market cap is $60.861 Billion. However, analysts have maintained the buy and outperform rating with a yearly target price of $62.90, suggesting a growth outlook for the near term.</p> 
<p>Monster Beverage Corp. is a holding company that develops, markets, sells, and distributes energy drink beverages and concentrates. It operates through the following segments: Monster Energy Drinks, Strategic Brands, and Other.&nbsp;</p> 
<p>The Monster Energy Drinks segment sells ready-to-drink packaged energy drinks to bottlers and full-service beverage distributors.&nbsp;</p> 
<p>The Strategic Brands segment sells concentrates and beverage bases to authorized bottling and canning operations.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-mnst-stock-price-action-on-daily-charts-strong"><strong>MNST Stock Price Action On Daily Charts</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/TOwjBxX9y3asNQfMfjiyZgI842_USGFfsWdfMtsMCz3KJ5YWHy2_3Q0W3S1ypeQM5pDtYSGbIP2yIDIQf0OiTYbdZxr2c_7aFXkjSwUvS6LbP014Pby5AswsGe54_rXjqw6fOxZCagVWwYsEXm32ih0" alt="Will Monster Beverage Corp. (MNST Stock) Price Fly Above $60?"> 
  <figcaption class="wp-element-caption">
    Source: MNST Stock Price Chart At TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>On the daily charts, Monster Beverage price was trading above the significant moving averages and paused below the cluster of $60. Moreover, stock showed long buildup in the past sessions suggesting buyer dominance. However, the stock is close to the trendline, making <a href="https://www.thecoinrepublic.com/2023/06/28/mnst-stock-fighting-bearishness-rose-1-40-monthly/" target="_blank" rel="noopener noreferrer nofollow">the battle exciting.</a></p> 
<p>As per the Fib levels, MNST stock price is trading above the 61.8% zone and near the 78.3% level, which buyers are trying to surpass above the range of $60. Moreover, the price was trading near the upper bollinger band and showed buyers’ strength in the past sessions.</p> 
<h2 class="wp-block-heading" id="strong-short-term-charts-suggests-a-bounce-strong"><strong>Short Term Charts Suggests a Bounce</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large is-resized"> 
  <img decoding="async" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-58-1024x481.png" alt="Will Monster Beverage Corp. (MNST Stock) Price Fly Above $60?" class="wp-image-158454" style="width: 100%;height:536px" width="1142" height="536" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-58-1024x481.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-58-300x141.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-58-768x361.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-58-1536x722.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-58-750x353.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-58-1140x536.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/08/image-58.png 1600w" sizes="(max-width: 1142px) 100vw, 1142px"> 
  <figcaption class="wp-element-caption">
    Source: MNST Stock Price Chart At TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>On the 4-hour charts, <a href="https://www.thecoinrepublic.com/2023/06/28/mnst-stock-fighting-bearishness-rose-1-40-monthly/" target="_blank" rel="noopener noreferrer nofollow">Monster Beverage Corp.</a> <a href="https://www.thecoinrepublic.com/2023/06/28/mnst-stock-fighting-bearishness-rose-1-40-monthly/" target="_blank" rel="noopener noreferrer nofollow">stock price</a> recovered sharply from the lower trendline and showed a strong demand zone near $55. Moreover, the buyers have attained strength and suggest a rebound.</p> 
<p>The RSI curve stays near neutrality and forms a positive crossover on the charts. However, the charts show a negative divergence, suggesting a volatile chart structure.</p> 
<p>The MACD indicator showed convergence of the moving average, and buyers are willing to register a trendline breakout to revisit the resistance bar of $60.</p> 
<h4 class="wp-block-heading"><strong>Conclusion:</strong></h4> 
<p>Monster Beverage Corporation (MNST stock) price stayed inside the pennant, looking to escape the trendline. Moreover, buyers have attained massive momentum in the past sessions, delivering a glimpse of bullishness. However, sellers also continue to stretch the price toward the lower neckline of $52.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels:</strong></h4> 
<p>Support Levels: $55 and $52</p> 
<p>Resistance Levels: $60 and $64</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Will Monster Beverage Corp. (MNST Stock) Price Fly Above $60?

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