Coca Cola (KO): the uptrend remains intact
Medion Jim December 18, 2020 1:40 PM
Coca Cola (KO), the leading global beverage company, said it will cut 2,200 jobs globally......
Coca Cola (KO), the leading global beverage company, said it will cut 2,200 jobs globally, as the coronavirus pandemic accelerates the beverage giant's restructuring efforts. Besides, Morgan Stanley raised the target price of the company to $59 from $57.
In November, the company reported the 3Q income from operations jumped 92.9% on year to $103.8 million on net sales of $1.33 billion, up 3.9%.
From a technical point of view, the stock has recorded a series of higher tops and higher bottoms, indicating a bullish outlook. Currently, the prices are trading above both 20-day and 50-day moving averages. The relative strength index locates at the buying zone between 50 and 70. Bullish readers could set the support level at $50.20, while the resistance levels would be located at $55.80 and $59.00.
Source: GAIN Capital, TradingView
From time to time, GAIN Capital Australia Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.
As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.