Coca-Cola Stock Forecast
Red day on Friday for Coca-Cola
(Updated on Apr 26, 2024)
No changes to the price of Coca-Cola stock on the last trading day (Friday, 26th Apr 2024). During the last trading day the stock fluctuated 0.95% from a day low at $61.35 to a day high of $61.93. The price has risen in 7 of the last 10 days and is up by 5.94% over the past 2 weeks.
The stock has broken the horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $61.74 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $65.43 sometime during the next 3 months.
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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. 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 $60.76 and $60.05. 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, April 25, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.
Support, Risk & Stop-loss for Coca-Cola stock
Coca-Cola finds support from accumulated volume at $60.54 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 $0.580 between high and low, or 0.95%. For the last week the stock has had daily average volatility of 1.68%.
Our recommended stop-loss: $59.52 (-3.60%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (KO) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Coca-Cola Company (The) to open at $61.67, and during the day (based on 14 day Average True Range), to move between $60.94 and $62.54, which gives a possible trading interval of +/-$0.797 (+/-1.29%) 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 2.58% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $60.54, some $1.20 (1.94%) from the current price of $61.74, our system finds the risk reward attractive.
Earnings coming up
Coca-Cola will release earnings BMO on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.690. We will update the financials statements for Coca-Cola, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.53% in the first trading day after earnings release.
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.
Current score: 0.128 Hold/Accumulate Unchanged
Predicted Opening Price for Coca-Cola Company (The) of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $61.67 ( 0.108%) | $61.74 |
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 | 62.25 | 0.83 % | |
| R2 | 62.03 | 0.473 % | ||
| R1 | 61.89 | 0.251 % | ||
| Current price: | 61.74 | |||
| Support | S1 | 61.45 | -0.467 % | |
| S2 | 61.31 | -0.689 % | ||
| S3 | 61.09 | -1.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 61.74 | |||
| Support | S1 | 60.54 | -1.94% | |
| S2 | 60.50 | -2.01% | ||
| S3 | 59.83 | -3.09% |
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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