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- Fevertree Drinks scheduled its H1-2023 report on 12 September.
- The FEVR stock is trading at £1238, which slid -3.13% in the last intraday session.
- The past FY report frolicked up the revenue of FEVR stock by about 18.13% year-to-date.
Fevertree Drinks PLC is a British producer of premium drink mixers known as “Tonic Water” flavored with quinine, a chemical extracted from the bark of Cinchona three. However, the world’s number one premium brand for mixed drinks launched a new range of cocktail mixers to elevate the two most popular cocktails, the Bloody Mary and the Margarita.
With the new launches, the FEVR stock is on a bullish run from the year-to-date return point of view, with a return of 18.13%. However, in early 2023, the price has been consolidating from £1160 to £960 till late March, reflecting the power struggle between bulls and bears.
From March end this year, the FEVR stock spiked upto 40% from its resistance level of £1160 in about 2 months with a steeply inclined momentum and achieved an annual high, but did not sustain and was halted with a resistance level of £1489.
From there, the price faced a considerable pullback, halted at £1160 previous resistance level, eventually becoming a significant support level.
The same scenario was observed again from the same level of £1160, where the price bounced back again with a hike of approximately 28% with a halt at the £1445 resistance level and then faced a bearish trend with a pullback, which has shown some resistance at £1302 level. However, it can’t hold up the bearish dominance, and the price further melts.
F2-2022 Financial Report
The F2-2022 Consensus catalyzed the growth of Fever-Tree Drinks, observed from March to June on the candlestick chart. The 2nd financial results were announce on 22 March 2022, with an opposing result of -0.28 EPS, where the reported £9.27 EPS could not match the estimated £9.55 EPS forecast. Apart from EPS, the FEVR stock price highly benefited from the F2-22 report.
Will FEVR Stock Overcome From Bears Control?
The relative strength index (RSI) trades at 31.50, and it denotes bearish solid momentum in the market during the intraday session. However, the Chaikin money flow (CMF) has been trading below 0 since 8 August 2023. Therefore, CMF scored -0.28, indicative of heavy weakness in the market.
The FEVR stock price is trading below the 20, 50, 100, and 200-day EMA, indicating the weakness and heavy involvement of buyers in the buyers of the market. The current market capitalization of FeverTree stock is £1.44 Billion, with an average volume of 114.10K shares.
Conclusion
The FEVR stock price market structure has a stronghold of bears in the market. And if bearish sentiment sustains, it might melt furthermore towards the £1200 level. On the contrary, if the bulls challenge the bears and successfully take control. There is the possibility of a trend reversal. And the price might retest the previous support level of £1302.
However, FeverTree scheduled its F1-2023 report on 12 September 2023. The investors have high hopes for the upcoming first yearly financial report.
Technical Levels
- Major resistance: £1489 and £1445
- Major support: £944.5 and £1160
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
