• Return to Headlines

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

By David Diaz

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. Yesterday's price range of $59.70 and $59.92 is within the prior day'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.

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 share prices have moved between a 52-week high of $60.07 and a 52-week low of $44.42 and closed yesterday at 34% above that low price at $59.54 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.4%.

Based on a current price of $59.54, Coca-Cola Co/The is currently 16.5% above its average consensus analyst price target of $49.73. The stock should find initial support at its 50-day moving average (MA) of $56.38 and further support at its 200-day MA of $53.52.

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 am inside day candle coca-cola co/the

Ticker(s): KO