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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish 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 $53.33 and $53.47 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. Traders and investors interested in shares of Coca-Cola Co/The may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plantÂ?based beverages; teas and coffees; and energy drinks.

Coca-Cola Co/The (NYSE:KO) is currently priced 6.8% above its average consensus analyst price target of $49.73. The stock should hit resistance at its 50-day moving average (MA) of $54.16, as well as support at its 200-day MA of $50.03.

In the past 52 weeks, Coca-Cola Co/The share prices have been bracketed by a low of $44.42 and a high of $55.92 and closed yesterday at $53.35, 20% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has remained constant.

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: bullish am inside day candle coca-cola co/the

Ticker(s): KO