KO climbs to highest close since May 4th
KO finished Thursday at 42.30 surging $0.75 (1.81%). This is the biggest single day gain in over a month. Today's closing price of 42.30 marks the highest close since May 4th. Closing above Wednesday's high at 41.94, the share confirms its breakout through the prior session's high having traded $0.41 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Thursday's trading range was $0.48 (1.14%), that's below last trading month's daily average range of $0.65. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.
Prices are trading close to the key resistance level at 42.50.
Though the stock 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.
Buying might accelerate should prices move above the nearby swing high at 42.47 where further buy stops could get triggered. As prices are trading close to May's high at 42.99, upside momentum might speed up should Coca Cola mark new highs for the month.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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|Closed above last periods high||TQ Pro Members Only|
|Close to R1 Resistance||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|Up Close near high of period||TQ Pro Members Only|
|Strong Up Move||TQ Pro Members Only|
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