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Molson Coors Brewing Company (TAP) is a $14 billion consumer goods company that manufactures and sells beer and other beverage products.
TAP had been in a sideways consolidation for several months prior to finally breaking out above key price resistance in the $77-78 area in recent days, on increasing volume.
It pulled back on Thursday, but the daily MACD is pointing higher, an indicator of strengthening momentum.
In addition, but not shown on the daily chart, is a recent weekly MACD reset near centerline support after a long-term negative divergence had formed.
entry at the current price and also at the rising 20 day EMA, with a closing stop at $72 and a target of $90.
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