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

By Amy Schwartz

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 $59.70 and $59.92 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.

Based on a current price of $59.74, Coca-Cola Co/The is currently 16.8% above its average consensus analyst price target of $49.73. The stock should find initial support at its 50-day moving average (MA) of $56.28 and further support at its 200-day MA of $53.46.

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.

In the past 52 weeks, shares of Coca-Cola Co/The have traded between a low of $44.42 and a high of $60.07 and are now at $59.74, which is 34% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 1.1%.

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