Coca-Cola Co

AAA

Today we've chosen to take a look at the chart of Coca-Cola Co. (NYSE:KO) because the bulls were able to send the price above its previous swing high. Today's move higher may be used by the bulls to suggest that the rally could continue even though many have started to question its sustainability. As you can see from the chart below, we've identified the previous highs and lows that have acted as levels of support and resistance in the past. Notice how traders will watch for a break above a previous high to signal a buying opportunity. This is a common strategy used by momentum traders and this chart is a clear example of why this technique has become so popular. Many short-term traders will want to wait a couple of days to see if the bulls will be able to maintain a move above the resistance of the $62 mark.



comments powered by Disqus
Related Analysis
  1. Macroeconomic Factors Weigh on Consumer Staples Stocks - Industry Outlook
    Stock Analysis

    Macroeconomic Factors Weigh on Consumer Staples Stocks - Industry Outlook

  2. Are Cost-Control Measures Driving Consumer Staples? - Industry Outlook
    Stock Analysis

    Are Cost-Control Measures Driving Consumer Staples? - Industry Outlook

  3. With 1/3 of the S&P 500 Having Reported Earnings… - Ahead of Wall Street
    Stock Analysis

    With 1/3 of the S&P 500 Having Reported Earnings… - Ahead of Wall Street

  4. The 'King of Shorting' Is Targeting This Popular Stock
    Stock Analysis

    The 'King of Shorting' Is Targeting This Popular Stock

  5. Can Consumer Staples Rebound? - Industry Outlook
    Stock Analysis

    Can Consumer Staples Rebound? - Industry Outlook

Trading Center