Coca-Cola Company – near support
Coca-Cola Company is in a falling trend and we can expect it to continue to fall. Also, the stock is near its ceiling of the trend channel, and can give a reaction down in the stock price. The stock gave a sell signal when it breakout from the rectangle formation at 43.38. The next target at 41.19 is almost reached, where the stock will find a support line. If it breaks the support line at 43.19 then the further decline is signaled.
From the technical analysis the stock is negative for the medium long term, however the stock is near a major support line, and if the fundamentals withing the company are good, it can very well bottom out here.
From the technical analysis the stock is negative for the medium long term, however the stock is near a major support line, and if the fundamentals withing the company are good, it can very well bottom out here.
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