KO climbs to highest close since May 4th


The Coca Cola Company (KO) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
KO rallies 1.81% closing $0.75 higher
KO ends the day on a bullish note closing near the high of the day
KO pushes through previous session high
KO rises to highest close since May 4th
TQ Sentiment
Report Sentiment: 50% Bullish
Technical Forecast:
Overview

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.

Daily chart for KO
Volatility

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.

Support/Resistance

Prices are trading close to the key resistance level at 42.50.

Trend

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.

Order Flow

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.

Conclusion

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

Market Conditions for The Coca Cola Company
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
High close to previous High TQ Pro Members Only
Bearish Bounce off SMA 20 TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
Bullish Harami Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
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