AB InBev is a Belgian multinational drink and brewing company. It was formed back in 2008 through InBev (itself a merger between Interbrew from Belgium and AmBev from Brazil) acquiring Anheuser-Busch from the United States. In 2015, it has also acquired SABMiller. Today, AB InBev owns approximately 630 beer brands in 150 countries. Based in Leuven, Belgium, company has regional headquarters in New York, Bremen, Mexico City, Johannesburg, London, São Paulo and others. It can be traded under the ticker $ABI at Euronext Brussels. Also, there are secondary listings under tickers $BUD at NYSE and $ANB at BMV.
AB InBev Monthly Elliott Wave Analysis 04.05.2023
The monthly chart below shows the AB InBev stock $ABI traded at Euronext in Brussels. From the all-time lows, the stock price has developed a cycle higher in blue wave (I) of a super cycle degree. $ABI has printed the all-time highs in November 2015 at 124.20. Without any doubt, the advance is a textbook quality impulsive move up in 5 waves. From November 2015 highs, a double 3 correction in the blue wave (II) has retraced 3/4 of the price. An important bottom has been printed in March 2020 at 29.025 low. From there, a new cycle in wave (III) might have started. Investors can be expecting $ABI stock to reach into the new all-time highs. The target will be 153-230 area.
In shorter cycles, from March 2020, one can see the price action sideways to higher. $ABI trades currently in the red wave I of blue wave (III). Once red wave I will accomplish 5 waves, then pullback in wave II should retrace part of the rise. Thereafter, acceleration higher in red wave III of blue wave (III) should take place.
AB InBev Weekly Elliott Wave Analysis 04.05.2023
The weekly chart below shows in more detail the last 3 swings out of 7 swings of double three correction from the November 2015 highs and the advance in red wave I from March 2020 lows. From an important bottom in March 2020, an impulse in black wave ((1)) of red wave I has reached €65.86 in June 2021. From the peak, black wave ((2)) has set a bottom in October 2022 at €45.54 lows. While above, black wave ((3)) is in progress. The target zone for wave ((3)) will be 82.39-105.21 area. This is in particualr the case if red wave I will unfold an impulse with extended wave ((3)). However, the weekly chart presents a more conservative view with a diagonal structure in red wave I. Hereby, wave ((3)) can reach 0.618-0.786 extension range being 68.29-74.50 area. Later, one should expect waves ((4))-((5)) to complete the advance in red wave I.
While investors can be accumulating long position at current levels, traders should wait for red wave I to end first and then buy red wave II in 3, 7 or 11 swings against March 2020 lows expecting acceleration higher in red wave III of blue wave (III) to take place.
Beyond Meat Video Elliott Wave Analysis 02.26.2023
Let us discuss in a video the cycles, the wave structure and long-term investment opportunities in the stock price action of the drink and brewery company AB InBev ($ABI).
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