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Possible Bearish Inside Day Candle Pattern Detected for Coca-Cola Co/The (NYSE:KO)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Coca-Cola Co/The (NYSE:KO) based on the price action in the company's shares. Today's price range of $59.51 and $59.75 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Coca-Cola Co/The may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Coca-Cola Co/The share prices have been bracketed by a low of $44.42 and a high of $59.77 and are now at $59.69, 34% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.6%.

The Coca-Cola Company manufactures, markets, and distributes soft drink concentrates and syrups. The Company also distributes and markets juice and juice-drink products. Coca-Cola distributes its products to retailers and wholesalers in the United States and internationally.

Coca-Cola Co/The (NYSE:KO) is currently priced 16.7% above its average consensus analyst price target of $49.73. The stock should discover initial support at its 50-day moving average (MA) of $55.80 and subsequent support at its 200-day MA of $53.24.

SmarTrend is tracking the current trend status for Coca-Cola Co/The and will alert subscribers who have KO in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle coca-cola co/the

Ticker(s): KO