KO closes above its opening price after recovering from early selling pressure

The Coca Cola Company (KO) Technical Analysis Report for Sep 14, 2018

Highlights

KO closes above its opening price after recovering from early selling pressure
KO finds support at 50-day moving average
KO ends the day on a bullish note closing near the high of the day
KO closes within previous day's range

TQ Sentiment

Report Sentiment: 50% Bullish
Technical Forecast:

Overview

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 chart for KO

Volatility

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.

Support/Resistance

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.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Buying could speed up should prices move above the nearby swing high at 46.30 where further buy stops might get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for The Coca Cola Company

Condition Forecast Direction Win Rate Exit Day Events
2 Consecutive Higher Closes TQ Pro Members Only
Close near high of period TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
More market conditions identified for TQ Pro members...
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