A sell-side firm downgraded their fundamental rating of Molson Coors ( TAP) Tuesday to "sell" from hold. Let's check out the charts and indicators of TAP to see if a downside price correction could begin soon.
In the daily bar chart of TAP, below, we can see that the shares have retreated in recent days. TAP is pointed down for a retest of the 200-day moving average line. The rising 50-day line could also be tested in the weeks ahead.
The On-Balance-Volume (OBV) line has stalled around the August high and could weaken in the days ahead. The trend-following Moving Average Convergence Divergence (MACD) oscillator has crossed to the downside for a take profit sell signal. 
In the weekly Japanese candlestick chart of TAP, below, we can see a top-reversal pattern in November. Prices have started to pull back to the 40-week moving line.
The weekly OBV line shows a turn lower. The MACD oscillator is back to the underside of the zero line but now is likely to see it reverse lower.
In this daily Point and Figure chart of TAP, below, we can see an upside price target in the $55 area.
In this second Point and Figure chart of TAP, below, we can see a price target in the $69 area.
Bottom-line strategy: On hot days in the summer you would think that the market for beer would be unlimited but it is December and some of the charts of TAP are looking vulnerable. Traders who are long TAP should tighten their sell stops.
