Evaluation of Coca-Cola Bottling Co. Consolidated stock downgraded after the last trading session.
(Updated on Dec 01, 2023)
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The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $735.53 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 9.29% during the next 3 months and, with a 90% probability hold a price between $716.78 and $803.89 at the end of this 3-month period.
COKE Signals & Forecast
The Coca-Cola Bottling Co. Consolidated stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $726.34 and $672.23. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, November 30, 2023, and so far it has fallen -1.08%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Coca-Cola Bottling Co. Consolidated stock
Coca-Cola Bottling Co. Consolidated finds support from accumulated volume at $710.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $8.00 between high and low, or 1.10%. For the last week, the stock has had daily average volatility of 1.34%.
Our recommended stop-loss: $698.75 (-3.83%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (COKE) For The Upcoming Trading Day Of Monday 4th
For the upcoming trading day on Monday, 4th we expect Coca-Cola Bottling Co. Consolidated to open at $728.86, and during the day (based on 14 day Average True Range), to move between $713.76 and $739.40, which gives a possible trading interval of +/-$12.82 (+/-1.77%) 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 3.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $728.01 (0.20%) than the support at $710.00 (2.28%), 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 positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: 0.849 Open Broker AccountHold/Accumulate Downgraded
Predicted Opening Price for Coca-Cola Bottling Co. Consolidated of Monday, December 4, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price December 4, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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