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Constellation Brands (STZ) Basing Ahead of Breakout in Strong Trend

Constellation Brands (STZ) Basing Ahead of Breakout in Strong Trend

by | May 16, 2022 | Chart SetUps

Constellation Brands (STZ) strong run in March and early April and pulling back to form a nice multi-week base just above the rising 55-EMA. A breakout move above $252 and out of this pullback trend sets up well for a breakout move that measures out to $275 as it clears longer-term resistance. MACD has pulled back off of its recent peak and starting to curl higher while shares have shown strong relative strength since early April.