Resistance

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>KO stock price closed at $60.20 while witnessing a rise of 0.35% during the last intraday session.</a> </li> 
 <li> <span>2</span> <a>Coca-Cola’s share price (NYSE: KO) has slipped below the 50 and 200 moving averages.</a> </li> 
</ul> 
<p>Coca-Cola’s (NYSE: KO) share price bottomed out in July after declining from an annual high of $65. The price drop halted forming a low of $58.8 and bottomed out to surge higher.<br><br>The pre-earnings sentiments of the stock were positive which took to a high at $63.27. However, the post-results sentiments were totally against and the beverage giant faced a price decline due to profit booking.<br></p> 
<p>The quarterly results were optimistic and turned out to be better than the expectations of Wall Street. Despite this, the price experienced a decline. The company reported a revenue of $11.966 Billion and $0.78 Billion as earnings beat the estimates by 8%.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/zqUEoiZ7MncccEKa2AeiayEBVaqnqQHhQCnO-4b2g0h71jjjSYfj-dTuFk9ym_j8-_q7SLuoWMowU-GbTzPth0321BuczDEmMERR7H_CFhbIU2ilDiWR5XeAatrBNSdsbKLFuPgHwlYOsANUyjcLg54" alt="KO Stock Price Forecast: Will KO Share Slid Below The Key Level?"> 
  <figcaption class="wp-element-caption">
    &nbsp;Source: barchart.com 
  </figcaption> 
 </figure> 
</div> 
<p>KO stock derivatives data states that the current implied volatility in the market is 14.1% with a decrement of 1.31% in the last trading session. It has a total of 757.96K open interest contracts as of now. The PUT/CALL ratio is 0.94 indicating the sellers dominating the option chain data at the moment.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-ko-stock-price-nearing-a-major-support-strong"><strong>KO&nbsp; Stock Price Nearing A Major Support.&nbsp;</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/oDtSjc-UYrt8Gp3B2EjiURwKfi14QG0EiShj2Qzkl9ZlSvKF7TqwivuJuvHqpxrX3UDI9LAUZlXv1lczK8oqow_B6Cr2dW7siM1mMihjJtKIQDR_7G0iPkyCzntxeRLWJStYWH5d3c_dAQtj3cyUfjY" alt="KO Stock Price Forecast: Will KO Share Slid Below The Key Level?"> 
  <figcaption class="wp-element-caption">
    Source: Coca-Cola. 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>KO’s share price currently trades at 60.27 and in a continuous decline since the disclosure of quarterly results.&nbsp;</p> 
<p>The stock is reaching a major support zone from where it may receive the buying volume and halt the decline.</p> 
<p>Analysts say that the stock has shown a good dividend over the years. Hence, it may be a choice for long-term investors as the stock holds strong fundamentals and enjoys being a giant in its own field.</p> 
<p><br>The stock may show bullishness if the price gets the support of buyers at the lower levels.</p> 
<h3 class="wp-block-heading" id="strong-ko-share-price-forecast-from-indicators-point-of-view-strong"><strong>KO Share Price Forecast from Indicators’ point of view</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/x1i8b_TXHJyZW5qkkI_IhHNdH5WDGJY1f8DFyJJEQwMldM5ctE7A-CeuYHovnqpOed7S4z8gKq7nPkYtGGKZAPPbw0L7SaTWqcXliJV01B-5RQ55aizFeYy6kDkRpQZue9OURQ1cCv00OrHqK6Wng0U" alt="KO Stock Price Forecast: Will KO Share Slid Below The Key Level?"> 
  <figcaption class="wp-element-caption">
    Source: Coca-Cola. 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>As per the EMA analysis, the KO stock price chart is showing a frequent crossover of EMA indicating the stock is following a sideways trend at the moment.&nbsp;</p> 
<p>At the time of publishing, the RSI value of the KO share price is 41.61 and that of the SMA line is 43.7. RSI is declining suffering resistance from the SMA line indicating the correction in the stock might continue.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/08/24/marvell-technology-mrvl-stock-what-to-expect-from-q2-results/" rel="noopener noreferrer nofollow">Coca-Cola (NYSE: KO) stock price </a>slipped from $65 to $58.8 in July and then surged to $63.27 before the earnings. The earnings came out to be better than expected, but the price dropped due to profit booking. The stock is trading at $60.27 and approaching a major support zone. Analysts are positive on the stock’s dividend and long-term prospects. The stock may bounce back if the buyers support it at the lower levels.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support levels:</strong> $59.03 and $57.89.</li> 
 <li><strong>Resistance levels:</strong> $61.45 and $62.99.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

KO Stock Price Forecast: Will KO Share Slid Below The Key Level?

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Thecoinrepublic.com

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