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- 1 Coca-Cola’s stock price is currently at $56.53 with a drop of 0.82% in the last 24 hours and a market cap of $244.455 Billion.
- 2 KO stock price fell by 2.97% over the past seven days.
KO stock price is facing strong bearish pressure on the daily technical charts. It is below the 100 and 200-day EMAs. The stock failed to break above its key resistance levels near the EMAs in the past few months, despite several attempts by the buyers.
The stock is currently trading near $56.53, with a marginal loss of 0.82% in the intraday session. The stock has a potential upside target of $60, but it needs to overcome the bearish momentum and surge above the 200-day EMA. The stock has a support level of $55, which could prevent further downside. Coca-Cola stock price prediction suggests that the stock is in the firm grip of the bears and needs to show signs of reversal before confirming a bullish trend.
The technical indicators favor the bears projecting a pessimistic perspective for the buyers. RSI and stochastic RSI oscillator are moving near the overbought zone, whereas the major EMA lines are acting as barrier points for KO price.
The company’s performance has been dismal throughout the year. Reported returns were -11.06% in the year-to-date period, -8.65% in the last six months, -6.42% in the last month, and -2.97% in the last week. This shows a persistent bearish trend that has not reversed yet.
Technical Analysis of Coca-Cola Stock Price in 1-D Timeframe
Coca-Cola stock (NYSE: KO) is trading under the 50 and 200-day DMAs (daily moving averages), which are not upholding the price trend. The current value of RSI is 25.52 points. The 14 SMA is above the median line at 31.76 points which indicates that the Coca-Cola stock is bearish.
The MACD line at -0.8348 and the signal line at -0.7155 are above the zero line. A bearish crossover is observed in the MACD which signals more bearishness for the KO stock price.
Weekly-Time Horizon Analysis
The weekly charts of Coca-Cola stock reveal that the sellers have been dominant, the price has broke below the 200 EMA. The technical indicators also confirm the bearish sentiment, as the RSI is near the oversold zone at 32 and the MACD has shows red bars and a bearish crossover. These signals indicate that the stock may face more downside pressure in the coming weeks.
Summary
Coca-Cola (NYSE: KO) technical oscillators also support the bearish trend. The MACD, RSI, and EMA are emphasizing negative signs and imply that the downtrend may continue in the KO stock price. Coca-Cola price action suggests that the investors and traders are bearish on the 1-D time frame. The price action reflects a bearish perspective at the moment.
Technical Levels
- Support Levels: $55.00 and $50.00
- Resistance Levels: $58.00 and $61.00
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
