KO closes above its opening price after recovering from early selling pressure
Coca-Cola Company (KO) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
KO finished the week 0.59% higher at 45.99 after gaining $0.16 (0.35%) today on low volume. Trading up to $0.31 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (KO as at Sep 14, 2018):
Friday's trading range was $0.42 (0.91%), that's slightly below last trading month's daily average range of $0.45. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average.
Prices are trading close to the key resistance level at 46.14. After trading as low as 45.61 during the day, Coca Cola found support at the 50-day moving average at 45.69.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying could speed up should prices move above the nearby swing high at 46.30 where further buy stops might get triggered.