Anheuser-Busch, which is scheduled to report before the opening bell on Wednesday, set an all-time intraday high of $128.35 on Feb. 26, and has been falling since. Analysts expect the company to post earnings of $1.06 a share. On Monday, CLSA downgraded its rating on the stock to underperform from outperform on concerns about volume and the stronger U.S. dollar.
Molson Coors, which is scheduled to report before the opening bell on Tuesday, is expected to post earnings of 43 cents a share. Analysts are concerned about sliding sales volume in North America and Europe. The stock has slid since it hit an all-time high of $79.18 on April 9.
Let's look at the daily and weekly charts for Anheuser and Molson and provide the key technical levels at which to buy on weakness and the key technical levels at which to sell on strength. Investors not familiar with technical analysis should begin with the notion that a price chart for a stock shows a road map of past price performance, which provides guidance for predicting future share-price direction.
Here's how to read a daily chart. There are two moving averages to follow; the 50-day simple moving average is in blue while the 200-day simple moving average is in green.