0537 GMT - AB InBev's valuation for its Asia initial public offering is ahead of Berenberg's base-case estimates and the bank says the higher-than-expected proceeds will beneficial to the Belgian brewer's net debt. "While the proceeds are not expected to entirely address debt concerns, we think they will help materially," Berenberg says. AB InBev is seeking to raise as much as $9.8 billion in the IPO, which could be the biggest ever listing of a food or drink company
This is currently trading below the overnight high @ 93.40 there is some support showing around 93 with key level at 92.60 and some overnight resistance at 92.50,. below that is an ari pocket until 90.80
After the 93.40, there are possible resistance at some gap fills from august of last email@example.com, 95.20 and 96.45
Reading the tape
There was not much tape reading before taking this after the break. I did watch the tape as it threatened a test of vwap.
Notes: This is a solid trade when you size up it. I can use this method to scale out. I could have been bigger here.
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