Looking at the technical picture of the Heineken NV stock (AMS: HEIA) on our daily chart, after reversing higher in the end of September, the share price got halted slightly below the 200-day EMA, which is near the key resistance area, between the 81.84 and 82.46 levels. Those levels mark the lows of July 27th and 31st respectively. Given the recent uprise, there is a possibility to see a continuation move higher, however, a break through the above-mentioned obstacles would be needed first, before getting comfortable with larger extensions to the upside.
If HEIA goes ahead and overcomes the aforementioned resistance area, between the 81.84 and 82.46 levels, and the 200-day EMA, the next stop could be the high of July 30th, at 85.82. A break of that hurdle could open the door for a test of the 87.28 barrier. That barrier marks the highest point of July.
Although the RSI is currently more on the flat side, it remains above 50. The MACD is pointing higher, while balancing above zero and its trigger line. The two oscillators are showing positive price momentum, what could be in line with the above-discussed idea.
Alternatively, if the share price suddenly slides back below the 80.20 obstacle, or even the 79.25 hurdle, marked by the high of September 18th, that may keep the buyers away from HEIA for a while, as such a move might lead to a larger correction lower. The stock could then drift to the 77.22 zone, marked by the highs of September 28th and October 6th, a break of which might set the stage for a test of the medium-term tentative upside support line taken from the low of March 16th.
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