Coca-Cola’s 3 Day Up Streak Comes to an End

The Hourly View for Coca-Cola

  • At the moment, KO’s price is down $-0.05 (-0.09%) from the hour prior.
  • It’s been a feast for bears operating on an hourly timeframe, as Coca-Cola has now gone down 5 of the past 5 hours.
  • Regarding the trend, note that the strongest trend exists 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 downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

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

KO

The Daily View for Coca-Cola

  • Currently, KO’s price is down $-0.5 (-0.87%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • Regarding the trend, note that the strongest trend exists on the 100 day timeframe.
  • 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

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