- The Coca-Cola Company stock has declined by 0.17% in a week, 3.70% in a month, and 2.28% in a year.
- The price is trading below the 50 and 100 Exponential Moving Averages.
- This company’s revenue has been flat for the last 6 years and net income has risen to some extent.
Market capital of Coca-Cola: $252.109 Billion
The current market price of Coca-Cola: $58.30
The KO Stock Overview:
Coca-Cola stock price was up by $0.36 (0.62%) in its previous trading session. Coca-Cola stock has been trading flat for the previous 10 trading sessions, with a high of $58.70 and a low of $57.55. The price is currently trading between the support and resistance levels.
The price is consolidating in a flat range on the higher side. Here the stock price is facing rejection near the level of $64.30 and on the lower side taking support near the $57 level. Although the price has broken the range in October 2022, it soon came back to the range.
The revenue report of the company has not shown any growth in the last 6 years. The revenue generated in 2016 was $41.38 Billion. The company then saw a decline in revenue till 2020 and then resumed the growth, which is now standing at $42.84 Billion in 2022.
The net income of the company has significantly improved over the years. It was $6.53 Billion in 2016 and now it is $9.54 Billion in 2022. The net debt of the company is slightly declining from 2019’s level as the net debt has declined from $33.50 Billion to 28.97 Billion in 2022.
Technical Analysis of Coca-Cola Company (KO)
The stock is currently trading near its support level i.e. $57.43 and $56.96. The price has halted near this level as the price has respected this level for the last 10 trading sessions. It has consolidated in this range for more than 1 year, which indicates that the price is in a sideways trend.
If the price breaks this range, the next support level is present near the level of $53 – $52. The price has created a strong resistance zone near the level of $63.49 – $64.3. This resistance area was tested for the 6th time in July 2023. The financials of the company have performed poorly for the past several years, which is creating pressure on this stock.
The Coca-Cola stock is trading much below its 50 and 100 EMAs which is a bearish sign. The slope of the EMA has started to slope down, which indicates that the price is strongly under the bears’ control. If we look at the bigger picture, the EMA is currently flat which confirms that the price is in a deep consolidation phase.
If we talk about the Relative Strength Index (RSI) which is currently below 50 and present at 41, it indicates that the momentum is still not favoring the bulls. The RSI has risen sharply in the last few sessions. It indicates that the sellers are losing momentum and the buyers are gaining the charge for this stock.
Conclusion
The revenue of the company has been flat for several years. Its net income is rising slowly, which is holding the stock strong at the upper level. The stock has been consolidating for more than a year. If the company posts a good financial result this time, we can expect a range breakout on the high side.
The price can trade under this range only until the breakout occurs. It is near the support level, which means the buyers will try to lift the price up. The RSI is indicating that the buyers are gaining some necessary momentum to lift the price from this level.
Technical level
Resistance- $64 and $64
Support- $57 and $58
Disclaimer
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