Hiyo people! I’m pretty sure that everyone knows what the Coca-Cola Company produces. Fine, for those who don’t, they are the ones that produce the world’s most famous soft-drink, Coca-Cola or Coke. Since the start of the year 2010, the shares of Coca-Cola or KO in the New York Stock Exchange has been moving in a descending channel and could continue to head that direction. Currently, a clear support can be seen at $49.94. Once the price slips below that number, its shares could head down to the descending channel’s support. However, if Coca-Cola makes a turnaround (in that case they need to force more people to drink Coca-Cola… kidding!) and starts to ascend, it could aim at least for the $53.80 marker. Once that price mark is cleared out, the next resistance could be at $55.00-$56.00.
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It’s interesting how drastic of a change KO can make over time. But I guess it’s that way with all stocks… What is the time frame that you think it will take for it to rise again? I want to invest in KO while the stock is still low!
I can’t really say when but the price breaking out from the descending channel could be a good buy.