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>>5 Stocks Under $10 Set to Soar
From a technical perspective, CCU ripped higher here back above its 50-day moving average at $28.03 with strong upside volume. This move is quickly pushing shares of CCU within range of triggering a near-term breakout trade. That trade will hit if CCU manages to take out its 200-day moving average at $30.20 and then once it takes out more near-term overhead resistance at $30.23 with high volume.
Traders should now look for long-biased trades in CCU as long as it's trending above Friday's low of $26.75 or above its 50-day at $28.03, and then once it sustains a move or close above those breakout levels with volume that hits near or above 147,417 shares. If that breakout hits soon, then CCU will set up to re-test or possibly take out its next major overhead resistance levels at $33 to its 52-week high at $34.95.