AB InBev see signs of a recovery in beer demand

3:54 PM July 30, 2020

The world’s biggest brewer, Anheuser-Busch InBev (BUD.US) announced today that total revenue for the Q2 fell by 17.7%. Total global revenue from three of its big global brands, Budweiser, Stella Artois, and Corona, dropped by 16.6% for the quarter as beer volumes tumbled 32% in April and 21% in May. However the beer brewer said it saw a rebound in global beer sales in June which grew by 0.7%.

Anheuser-Busch InBev (BUD.US) - price bounced of the  major resistance level at $58.66 per share and is heading towards upward trendline. Should a break below occur support at $49.75 may be at risk. However if buyers will manage to halt declines there, then upward impulse into $64.57 is possible. Source: xStation5

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