August 3, 2010

Coca-Cola Stocks Climb


The stocks of Coca-Cola Company or KO in the New York Stock Exchange has been climbing significantly. They are one of the largest producers of carbonated soft drinks which is sold to more than 200 countries around the globe.


I had a technical analysis on this stock pick last June when it was still consolidating in a descending channel (kindly check here). However, recently, the Coca-Cola stocks broke out from the said chart pattern and breached the $53.80 and $56.00 resistances in a month span. As it further ascends, the next resistance that it could encounter is $57.43. If that marker gets cleared out, the next resistance could be $59.45. On the flip side, what used to be the $56.00 resistance could now serve as the immediate support. If it further drops below the $56.00 level, the next support could be $54.43.

No comments:

Post a Comment