Boston Beer company (SAM) is in a free fall since failing to build on the bullish swing from May through July. It is now back near the lows of the year as we can see in the daily chart.SAM Daily Chart 9/23(click to enlarge)Failed bullish attempt in 2016:1) SAM was bearish in 2016 until SAM found support at 145.33 in May. Then in June, we saw a price bottom formed with a breakout at the end of June.2) The breakout was confirmed when price respected the price bottom and shot up to 195 in July. 3) Price was going against a key support/resistance pivot area, and a falling trendline. After consolidating in August, the bulls in this market finally gave up and bears took over. 4) As we approach the lows on the year, we should anticipate further downside. After all, the May-July rally left the prevailing bearish trend intact. If the downtrend extends then we can see a push towards 140. At this point, if price rebounds, look for resistance around 163, a key support/resistance pivot in 2016.