Coca-Cola Bottling Co. Consolidated Stock Forecast
Coca-Cola Bottling Co. Consolidated stock downgraded to Strong Sell Candidate
(Updated on Apr 26, 2024)
The Coca-Cola Bottling Co. Consolidated stock price fell by -1.03% on the last day (Friday, 26th Apr 2024) from $830.98 to $822.44. During the last trading day the stock fluctuated 2.30% from a day low at $819.72 to a day high of $838.61. The price has been going up and down for this period, and there has been a 0.68% gain for the last 2 weeks. Volume has increased on the last day by 1 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 34 thousand shares were bought and sold for approximately $28.14 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.59% during the next 3 months and, with a 90% probability hold a price between $733.09 and $815.30 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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COKE Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Coca-Cola Bottling Co. Consolidated stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $825.11 and $831.85. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -2.38%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A buy signal from a double bottom formation was found on Wednesday, April 03, 2024 and based on theory for this formation the price should go up by 13.27% to $931.55 within 19 trading days since signal was issued (Monday, April 29, 2024).
Support, Risk & Stop-loss for Coca-Cola Bottling Co. Consolidated stock
Coca-Cola Bottling Co. Consolidated finds support from accumulated volume at $813.63 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $18.89 between high and low, or 2.30%. For the last week the stock has had daily average volatility of 2.02%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (COKE) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Coca-Cola Bottling Co. Consolidated to open at $826.92, and during the day (based on 14 day Average True Range), to move between $805.65 and $839.23, which gives a possible trading interval of +/-$16.79 (+/-2.04%) up or down from last closing price. If Coca-Cola Bottling Co. Consolidated takes out the full calculated possible swing range there will be an estimated 4.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $830.46 (0.98%) than the support at $813.63 (1.07%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Coca-Cola Bottling Co. Consolidated stock A Buy?
Coca-Cola Bottling Co. Consolidated holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.728 Strong Sell Candidate Downgraded
Predicted Opening Price for Coca-Cola Bottling Co. Consolidated of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $826.92 ( 0.545%) | $822.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COKE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 845.81 | 2.84 % | |
| R2 | 838.60 | 1.96 % | ||
| R1 | 834.14 | 1.42 % | ||
| Current price: | 822.44 | |||
| Support | S1 | 819.71 | -0.332 % | |
| S2 | 815.25 | -0.87 % | ||
| S3 | 808.03 | -1.75 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 854.68 | 3.92 % | |
| R2 | 836.47 | 1.71 % | ||
| R1 | 830.46 | 0.98 % | ||
| Current price | 822.44 | |||
| Support | S1 | 813.63 | -1.07% | |
| S2 | 812.17 | -1.25% | ||
| S3 | 810.40 | -1.46% |
COKE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 12, 2024 | Apr 25, 2024 | May 10, 2024 | $0.500 | 0.0608% |
| 2 | Dec 05, 2023 | Jan 25, 2024 | Feb 09, 2024 | $2.00 | 0.231% |
| 3 | Oct 13, 2023 | Oct 26, 2023 | Nov 10, 2023 | $0.500 | 0.0735% |
| 4 | Jul 14, 2023 | Jul 27, 2023 | Aug 11, 2023 | $0.500 | 0.0674% |
| 5 | Apr 14, 2023 | Apr 27, 2023 | May 12, 2023 | $0.500 | 0.0791% |
FAQ
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