THE PEAGSUS : UNITED BREWERIES LTD.

In the next two to three months, short-term traders should try to purchase the stock for a potential TGT of 1850–1870 while searching for a profitable setup. 

The stock recently witnessed the Golden crossover on the daily chart and is trading above the 50 and 200 DEMA. It has provided a B/O from the falling trendline and Follow through Zone B/O at (1650–1660). 

The stock nearly fell more than 23% from the ATH, which rebounded more than 15% from the numerous bullish candlestick pattern where the support of the  EXHAUSTION GAP  is seen.

At this moment, the momentum indicator, RSI, is trading with a positive hidden divergence and ATH can be reached by looking at the current state of the stock.



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