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KO closes within previous day's range after lackluster session

Technical Analysis Report for KO - Apr 16, 2018 [1 min read]
KO closes above its opening price after recovering from early selling pressure
KO finds buyers at key support level
KO fails to close above 200-day moving average
KO closes higher for the 3rd day in a row
KO rises to highest close since February 2nd
TQ Sentiment
Technical Forecast:

Moving higher for the 3rd day in a row, KO finished Monday at 44.68 gaining $0.17 (0.38%) on low volume. Today's closing price of 44.68 marks the highest close since February 2nd. Trading up to $0.25 lower after the open, Coca Cola 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 in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for KO

Monday's trading range was $0.49 (1.1%), that's below last trading month's daily average range of $0.66. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.


After trading as low as 44.40 during the day, the share bounced off the key support level at 44.61. The failure to close below the support might increase that levels importance as support going forward. After spiking up to 44.89 during the day, the stock found resistance at the 200-day moving average at 44.73.


While the market is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.


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

Report Market Conditions
Bearish Bounce off SMA 200 TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
3 Consecutive Higher Closes TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

KO breaks key support level

Apr 24, 2018
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Find out what happened when The Coca Cola Company traded like this in the past. See the odds for each technical pattern with expected gain and loss.


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