Molson Coors Beverage Co. ( TAP) has rallied above its highs of 2022 and 2021, breaking out of a large consolidation pattern. Let's check out the charts of this well-known beverage company before the outside temperature edges into the 90s.
In the daily bar chart of TAP, below, I can see that the shares made lows in September/October. TAP rallied from March into early May. Prices broke above the February and November highs and the July highs too. TAP pulled back May to retest the breakout point at $60.
The On-Balance-Volume (OBV) line surged higher in April and pulled back in May. The OBV line has started to turn upwards again and so has the Moving Average Convergence Divergence (MACD) oscillator. TAP trades above the rising 50-day moving average line and above the rising 200-day line. 
In the weekly Japanese candlestick chart of TAP, below, I can see that the $60 level was key resistance. This level is now support as prices broke out above it. The slope of the 40-week moving average line is positive.
The weekly OBV line shows gains from March. The MACD oscillator is in a bullish alignment above the zero line.
In this daily Point and Figure chart of TAP, below, I can see a price target of $100.
In this weekly Point and Figure chart of TAP, below, I can see the same $100 price target as the daily chart above.
Bottom-line strategy: This might not be your favorite beverage but the charts are positive-looking and traders should trade TAP from the long side. Risk to $59. The $100 area is my price target for now.
