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The Coca-Cola Company (KO) – stock is trading little over 50 dollars and offering a possible buying price between $54.92 – $57.67. Let’s look at the stocks technical actions using a weekly chart.
2. The stock brokeout and made a new high back in June. It took a while for this to happen when it broke down back in February.
3. The stock went right in to a consolidation, as it digested the gains.
4. The stock brokeout again and in rock solid volume this time.
5. The stock appears to be another consolidation, now.
6. Though volume was not that great, the accumulation volume seems to run heavier than the distribution.
7. The stock also found support at the 50 day moving average line.
8. The stock is offering possible buying price between $54.92 – $57.67, with a stop loss at $50.53.
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