(Last Updated January 18, 2021)
Welcome to the news page for Coca Cola Co (KO). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
A trend/countertrend situation exists on KO, in which a downtrend exists on shorter timeframes but an uptrend appears on the 90 day timeframe. As such, traders with short positions should be aware of the uptrend in place on the longer timeframes.
Nuances in the trend on KO can be understood by observing the behavior of its moving averages. The 100 and 200 day averages suggest a bullish trend, as they are pointing upwards, in contrast to the downward-facing 20 and 50 day averages that imply a bearish trend. Ultimately, this suggests a bearish trend on shorter timeframes, compared to a bullish trend when observing more than 3 months of data. Moreover, today we saw the 50 moving average turn bearish.
Below is a chart showing KO’s price with its moving averages.
This move happened on lower volume, as yesterday’s volume was down 28.91% from the day before — and down 37.06% from the same day the week before.
The price move occurred on stronger volume; specifically, yesterday’s volume was up 80.74% from the day prior, and up 68.42% from the same day the week before.
I think she'll drop down to 49 or high 48 before surging up for earnings.
Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
Price action traders may also wish to note that we see a pin bar candlestick pattern on coca-cola.
As for how volume fared, yesterday’s volume was up 200.83% from the previous day (sunday), and up 163.71% from monday of the week before.
The change in price came along side change in volume that was up 1.79% from previous day, but down 44.56% from the thursday of last week.
This move is a reversal from the hour prior, which saw price move down.
Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.