• Return to Headlines

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 $57.30 and $57.50 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.

Coca-Cola Co/The (NYSE:KO) defies analysts with a current price ($57.37) 13.3% above its average consensus price target of $49.73. The stock should discover initial support at its 50-day moving average (MA) of $54.35 and subsequent support at its 200-day MA of $52.51.

Over the past year, Coca-Cola Co/The has traded in a range of $44.42 to $57.64 and is now at $57.37, 29% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has risen 0.2%.

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.

SmarTrend recommended that subscribers consider buying shares of Coca-Cola Co/The on December 4th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $54.02. Since that recommendation, shares of Coca-Cola Co/The have risen 6.7%. We continue to monitor KO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

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

Ticker(s): KO