TECHNICAL ANALYSIS

BUDWEISER may trend higher after breaking out from its two-week bullish flag pattern with a long white candle yesterday. In view of the stock bouncing off the 50-day EMA with its second consecutive white candle, the bullish momentum has been enhanced. We expect the rising momentum to steer the stock higher and test the next resistance in the near term.

Fundamentals

Net profit is expected to grow at a CAGR of 14% for the next 3 years with strong net margins higher than 13%.

Source: Rakuten Research - 6 Aug 2024

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