Coca-Cola Stock Forecast
Stronger technical forecast for Coca-Cola stock price after Friday trading.
(Updated on Apr 19, 2024)
The Coca-Cola stock price gained 2.14% on the last trading day (Friday, 19th Apr 2024), rising from $58.91 to $60.17. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.31% from a day low at $59.00 to a day high of $60.36. The price has been going up and down for this period, and there has been a 1.11% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 million more shares were traded than the day before. In total, 16 million shares were bought and sold for approximately $988.65 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Coca-Cola stock with a 90% probability to be traded between $57.63 and $60.64 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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KO Signals & Forecast
The Coca-Cola stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $58.73 and $59.81. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 3.63%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A sell signal from a double top formation was found on Thursday, March 28, 2024 and based on theory for this formation the price should fall by -3.12% to $58.30 within 26 trading days since signal was issued (Monday, April 22, 2024).
Support, Risk & Stop-loss for Coca-Cola stock
Coca-Cola finds support from accumulated volume at $59.83 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 $1.36 between high and low, or 2.31%. For the last week the stock has had daily average volatility of 1.19%.
Our recommended stop-loss: $57.26 (-4.84%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (KO) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Coca-Cola Company (The) to open at $59.84, and during the day (based on 14 day Average True Range), to move between $59.47 and $60.87, which gives a possible trading interval of +/-$0.699 (+/-1.16%) up or down from last closing price. If Coca-Cola Company (The) takes out the full calculated possible swing range there will be an estimated 2.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $60.40 (0.38%) than the support at $59.83 (0.57%), 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 Company (The) stock A Buy?
Coca-Cola 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.606 Hold/Accumulate Upgraded
Predicted Opening Price for Coca-Cola Company (The) of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $59.84 ( 0.548%) | $60.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 61.20 | 1.71 % | |
| R2 | 60.68 | 0.85 % | ||
| R1 | 60.36 | 0.315 % | ||
| Current price: | 60.17 | |||
| Support | S1 | 59.32 | -1.41 % | |
| S2 | 59.00 | -1.95 % | ||
| S3 | 58.48 | -2.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 60.54 | 0.615 % | |
| R2 | 60.50 | 0.548 % | ||
| R1 | 60.40 | 0.382 % | ||
| Current price | 60.17 | |||
| Support | S1 | 59.83 | -0.565% | |
| S2 | 59.35 | -1.36% | ||
| S3 | 58.91 | -2.09% |
KO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 15, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.485 | 0.799% |
| 2 | Oct 19, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.460 | 0.785% |
| 3 | Jul 19, 2023 | Sep 14, 2023 | Oct 02, 2023 | $0.460 | 0.83% |
| 4 | Apr 26, 2023 | Jun 15, 2023 | Jul 03, 2023 | $0.460 | 0.759% |
| 5 | Feb 16, 2023 | Mar 16, 2023 | Apr 03, 2023 | $0.460 | 0.737% |
FAQ
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