Coca-Cola Has Now Headed Up 4 Out of the Past 5 Days

The Hourly View for Coca-Cola

  • At the moment, KO’s price is down $-0.04 (-0.07%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved up.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe.
  • Price action traders may also wish to note that we see a doji candlestick pattern on Coca-Cola. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Of note is that the 100 hour changed directions on KO; it is now pointing down. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Coca-Cola’s hourly price chart is shown below.

KO

The Daily View for Coca-Cola

  • Currently, KO’s price is up $0.16 (0.28%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Coca-Cola has now gone up 4 of the past 5 days.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Coca-Cola. Given that we see an uptrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
  • Divergence between KO’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in KO’s price.

Below is a daily price chart of Coca-Cola.

KO

Featured Coca-Cola Idea From TradingView

Below is a trading comment entitled Bought some of this today you may find interesting:

Coca-Cola looks to be developing a support point here. I bought some shares of this today. Hoping to take it up to the next level at $600. At this price, it wouldn’t hurt to buy some, considering the amount of potential profit ahead of us.

ashur123