$Ambev SA (ABEV.US)$ Initiating closer look at price action,...
$Ambev SA(ABEV.US$ Initiating closer look at price action, zooming out for birdseye view on the 1Mo chart. Evident patterns of pull-back lasting 3mo, last one extended to 4mo now month May'25 into 5th TBD how it closes EOM. Oppotune to seek out bottoming formations on lower timeframes. Shoutout to @Nidia_Girl for the funadementals feedback. Owing to forecast of lower numbers expected for Q2'24 as indicated by @Nidia_Girl, I'm a bit skeptical this ticker can make it beyond 2.85; however so 3.06 is certainly a hope-for.
Not convinced the bottom is in; still could cycle lower. Attempted a swing up, only to gap down these few days into this week. Hmmm wait and see how the week closes. Going upward 2.47 and staying up will be key.
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Nidia_Girl : I think also institutional buyers might find a opportunity to buy so we might see this if prices at bargain