June 22, 2010
Coca-Cola Stocks Poised To Go Up
Hey, what's going on! Here's one of my stock picks for the month... I'm pretty sure everyone knows what the Coca-Cola Company produces. Fine, for those who don't, they are the ones that produce the world's most famous soft-drink, Coca-Cola or Coke.
Since the start of the year 2010, the stocks of Coca-Cola or KO in the New York Stock Exchange has been moving in a descending channel and could continue to head that direction based on my technical analysis. Currently, a clear support can be seen at $49.94. Once the price slips below that number, its shares could head down to the descending channel's support. However, if Coca-Cola makes a turnaround (in that case they need to force more people to drink Coca-Cola... kidding!) and starts to ascend, it could aim at least for the $53.80 marker. Once that price mark is cleared out, the next resistance could be at $55.00-$56.00.