Monster Beverage (MNST): This Stock is on a Caffeine High!

SUMMARY

I believe there could be a B wave bounce buying opportunity. The below chart shows that five impulse waves were established and now the initial downdraft of the correction has occurred. However, given how oversold the MACD is, a buying opportunity could be attractive.

What do the Elliott Waves show? The initial downdraft was a five wave sequence; so, likely the correction will be a ZigZag (5,3,5) type. The terminal end of red A shows that it's likely complete and the B has rise has started. Terminal ends of a very large A wave are also good buying points so as to ride the multi month to year B wave up.

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