- The KO stock price has continuously fallen from the last 40 trading sessions.
- The price has surged up by 0.1%.
The Coca-Cola Co. (NYSE: KO) is an American beverages-making company founded by Griggs Candler on May 8, 1886. The firm produces, manufactures, and does marketing of non-alcoholic beverages produced by them.
Coca-Cola Co. (KO) Stock: Technical Analysis
The KO stock price has risen by 0.1% since the last trading session and is currently trading at $57.60. The company trades with a market capitalization of 249.082 Billion dollars. This company’s stock has been trading with a 10-average volume of 17.872 Million dollars.
Technical Analysis on 1-Day Timeframe
In 1 day chart, we can observe that the KO stock is sustaining above the $57.50 level by making it a strong support zone. The company stock price has declined by 9.04% in the last 40 trading sessions. Its price now also seems to be trading inside a parallel channel. The KO stock price is moving downwards in Lower highs and lower lows formation.
The price has been falling for continuous 40 days and is currently trading above its $57.50 support zone. A profit booking scenario can be form here. The sellers, who have invested at the top of the recent high, would start booking their profits because of the support zone. The price has two supports one is the $54.70 support zone and another support is of the lower trendline of the parallel channel.
In the short term, the price could rise to the $60.70 level or touch the upper trendline of the parallel channel. Suppose the price started to face rejection from the upper trendline of the parallel channel, it could continue its fall in the Lower highs and lower lows formation.
The KO stock price is trading below the 100 and 200 EMA lines, but the EMA line is very far from it. It indicates the price could rise and touch the ema line to continue its fall.
Technical Indicators On The Current Trend
The relative strength index is at 32.31 and has started to slope upward. This indicates that the buyers have started to influence and could move the price up as there is room for them in the upward direction.
However, if the price gives the breakdown of the $57.50 support zone and sustains below it in the upcoming trading session, it could fall to its support at $54.50 without giving any retracement.
Conclusion
The Coca-Cola Co. (KO) chart is bearish. The price could move up from the $57.50 support to $60.70. After that, it can continue its long-term fall. The indicators are also showing signs of a pullback.
Technical levels
Resistance Levels: $60.70.
Support Levels: $57.50 and $54.50.
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only. They do not provide financial, investment, or other advice. Investing in or trading comes with a risk of financial loss.