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- 1 BUD stock is the latest on Bill Gates’ watch list and now analysts have shared a roadmap to $100 for BUD.
- 2 Morgan Stanley believes the current valuation doesn’t adequately capture the possible future gains over BUD shares.
- 3 Anheuser-Busch Inbev SA (NYSE: BUD) commonly known as AB InBev, is a Belgian multinational drink and brewing company based in Leuven, Belgium.
BUD stock is trying to rebound and may gain support to recover maximum in 2023 according to analysts. After Bill Gates showed interest in BUD, analysts have introduced a recovery plan for BUD to reach the $100 mark. Meanwhile, BUD shares are currently trying to remain above the $55 support and are trying to gain strong uptrend momentum.
However, Morgan Stanley believes the current valuation doesn’t adequately capture the possible future gains over BUD shares. This may be the contradicting fact regarding the BUD share’s current outlook.
Analysts added that if BUD stock price breaks out of certain levels and the surge continues, then it may reach the $100 mark by the end of 2023. They have also mentioned that the current outlook of BUD shares may be bearish but as soon as it gathers support with a strong upside trend, then it may break out of all bars.
BUD stock price was at $55.75 and has gained 0.65% of its market capitalization during Friday’s trading session. Trading volume was below average and needs to grow during Monday’s trading session. This demonstrates that the accumulation rate of buyers needs to be increased for BUD to initiate its recovery.
How Will BUD Stock Reach $100? – the Plan
The Fibonacci retracement analysis has identified noteworthy target levels for BUD stock in the near upcoming period. Initially, BUD shares must surpass the resistance at $59.50 (R1) to advance towards the next target, R2, set at $67.75. After a period of moderate consolidation, BUD is projected to continue its progression towards R3, situated at $76.00. Notably, there is a solitary level, R4, positioned at $87.78, which could potentially impede BUD shares’ journey towards the $100 milestone.
Analysts suggest BUD shares may encounter difficulty in overcoming the obstacle presented by R4 at $87.78, it might undergo a consolidation phase around that range before embarking on a path to recovery.
Analyzing Anheuser-Busch Inbev SA (NYSE: BUD)- Technical Overview
BUD stock price has been consolidating inside the horizontal range-bound area of $54.88 and $59.48. Now, BUD share price is trying to accumulate buyers in order to surge towards the upper threshold of the consolidation phase. Meanwhile, BUD shares are currently trading below 20, 50, 100 and 200-days daily moving average.
However, BUD shares have undergone a challenging period, and this predicament persists due to the negative repercussions stemming from the marketing campaign for its Bud Light Beer. Over the course of a week, BUD stock has experienced a slight decline of 1.01%, which became a decrease of 4.13% within a month.
The past three months recorded a notable drop of approximately 5.76% in BUD share price, which has escalated to a decline of 4.28% over the past six months. Additionally, the year 2023 has not commenced favorably for BUD shares, with a year-to-date slip of around 7.56%.
Technical indicators suggest that BUD shares are trying to sustain near the lower levels. Relative strength index (RSI) and moving average convergence divergence (MACD) both confirm the upward momentum.
RSI was at 42 and is moving towards neutrality to the overbought zone. The MACD line is trying to soar towards the signal line for a positive crossover. Investors in Anheuser-Busch Inbev SA (NYSE: BUD) need to check if BUD share price approaches the upper threshold at $59.48.
Summary
BUD stock could initiate a recovery, and analysts believe that substantial progress can be achieved throughout 2023. Analysts also noted that if the price of BUD stock price manages to breach specific thresholds and maintains its upward momentum, it could potentially reach the $100 threshold by the end of 2023. The Fibonacci retracement analysis has pinpointed notable target stages for BUD share in the imminent future. Technical indicators show that BUD shares are striving to maintain their position around the lower tier.
Technical Levels
- Support Levels: $54.88 and $54.15
- Resistance Levels: $57.45 and $59.50
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
