Pour me a Big Cup of $BROS – June 25, 2024
This is Scott McGregor at Scott Trades on Twitter with StockMarketMentor.com and your Chart of the Day. I want to take a look at Dutch Bros coffee ( NYSE: BROS ).
Now, Bros ( NYSE: BROS ) has a big cup (pun intended) on this chart. And I think this has breakout potential if it can get above a level here on the chart. So we have this cup and now we have this clear level of resistance so I definitely think this could be actionable on a swing trade if it can get above and stay above that $41.00 level.
You can see how 41.20, right around here, has been resistance. Just in the past couple of days all the way back here in February of 2023 it was also resistance. This is a pretty important zone for Bros ( NYSE: BROS ) and we want to see if it can blast through and do it on higher than average.
Earnings aren’t coming up until August, so there’s a pretty clear runway for Dutch Bros ( NYSE: BROS ) to potentially break out and test some of these previous highs, like up here at around $54.00 like it was back in 2022. I want to see if this can break out of this big cup of coffee, blast through, and potentially test up here at around 54.00. That would be a pretty clear swing trade target on Dutch Bros ( NYSE: BROS ).
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