$CCU breaks above prior highs on strong blue “Go” bars.
Brewers are outperforming in the consumer staples sector and the staples sector is itself one of the leading sectors. After a “NoGo” correction that lasted about a month, Companias Cervecerias has re-entered a “Go” trend just after GoNoGo Oscillator broke out of a Max GoNoGo Squeeze back into positive territory. Having since retested that level, GoNoGo Oscillator is now strongly in positive territory and the momentum has given price the legs to get above channel resistance and make a new high. The prior high from August ’21 put a price target at around $18.70.
