Long

Constellation brands looks very interesting

Berkshire Hathaway bought 27% higher, and doubled down in Q1 of this year, so I would assume the fundamentals are good.

But I am a technical swing trader, and I really like the technicals here. We could be close to forming a macro bottom, and so I might just hold this one for many many years. A DCA strategy would be perfect to enter here. Let me tell you a bit more about what I see on the charts:

Note

This monthly logarithmic channel hasn't been broken. The bottom is at around 156$ today so we are not quite there yet. And a slight overshoot is very possible on a macro bottom like this, so I plan on entering using spot shares and wide stop losses and a DCA strategy (buying 20% of the total position at 3 different price levels)

We can see some signs of accumulation at the recent lows on the daily RSI:

I will be buying some spot shares this morning and I plan to buy more if the stock goes to 151$ (.618 log retracement level), and again if it reaches 128$, which I doubt will happen but it's possible.

This stock has been stuck in a sideways range for about 9 years now, and it is a highly profitable business which can withstand a recession because of its popular brands like Corona and Modelo.

Note

Sorry for the typo, I meant 33% of the total position on 3 different price levels*

Note

Here are the log scale fib retracement levels from ATH to covid low.

And here on the 15 min time frame, looks like a possible inverse head and shoulder:

cicatrace

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