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Boston Beer Company (SAM) Has a Strong Bullish Signal

Samuel Adams maker, Boston Beer Company $SAM has been on a strong rally in March, and started April with a bullish breakout as well.

SAM Weekly Chart

(click to enlarge)

Rounded Bottom:
- The weekly chart shows the beer maker in a bearish trend since hitting $320 in 2015. 
- After falling to a low of $128.85 in the middle of 2017, price has been rallying. 
- Note that the latest rally pushed price above the 200-week simple moving average (SMA) - it has been above the 100-week and 50-week SMAs before.
- The fact that price bounced off of the 100- and 50-week SMAs was a strong bulish signal as well.
- Also, the RSI holding above 40 was also a strong signal that bullish momentum has been building.
Upside:
- Price closed last week after pushing to a high not seen since the end of 2015. 
- This bullish breakout opens up the 2015 high just above $320. 
- We might see some short-term pullback. 
- If  SAM does indeed pullback, monitor the 180-185 area for support. Doing so would be a very strong bullish continuation sign.

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