The Coca-Cola Company (NYSE:KO) gained 0.04% in yesterday’s session, going up from its prior closing price of $45.50 to $45.52, and has now recorded rally in 4 consecutive sessions. Many in the market will be closely watching whether this winning streak is sustainable or take a temporary pause for the next couple of trading sessions. The stock price went upward in 7 of the last 10 days and has generated 0.26% during the last two weeks. Trading activity decreased by -4.34 million shares, and in total, 9.72 M shares exchanged hands for about $442.36 million. It should be noted that increasing price and decreasing volume show lack of interest and this is a warning that something has fundamentally changed.
Inside KO’s Recent Trend
The Coca-Cola Company (KO) with 90% probability for the price to range between $45.60 and $48.02 in this timeframe. Investors sometime notices large volume spikes after a breaking of the horizontal base, and stocks rarely experience a roller coaster ride from the bottom of a trend. Stocks jumping at a middle end of a horizontal base are therefore followed in search of a potential runner.
The Coca-Cola Company Technical Signals
KO is a buy based on short-term MA; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On additional rally, the share price will meet long term resistance at around $45.70. On a drop, the stock is likely to find some support over the short run, which begins at $45.08. A buy signal will be generated if it crosses above the long term moving average. Meanwhile, a price down versus the short-term MA will be a fresh sales call.
The Coca-Cola Company (NYSE:KO) Support And Resistance Levels
The Coca-Cola Company (KO) recorded volume accumulation so there will probably be a surplus of buyers at $45.50. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $45.59, $45.67 and $45.74.
Accumulated volume is going to prevent the price from rising further at $45.59 and this action will lead the price to take a temporary pause or stay muted for a few days.
The Coca-Cola Company (KO) Risk Assessment
The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $0.24 (0.53%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 0.98%.