October 20, 2010

Coca-Cola Nets!

Good news for Coca-Cola which posted a 2010 3rd quarter net income of 2.1 billion dollars. Up by 1.9% compared to the same period a year ago. Their world most famous soft-drink, Coca-Cola and other beverages boosted their sales and brought home the favorable numbers.

Its positive income report propelled the stocks (KO in the New York Stock Exchange) to move higher yesterday by 0.6% to $60.34. On my technical analysis, the $59.45 resistance has been cleared out last week as the stocks ascend. By the way, if you want to check my previous posts on this, kindly click this post1 post2. Anyway, the next resistance the KO stocks could encounter is $61.90 then after that is $65.59. In any case the stocks fail to rise, the immediate support could be the 3-month uptrend. If that uptrend gets broken, the next support could be $57.22. If that support still fails to hold the price from further falling, a strong support could be the 18-month uptrend.

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