Survive

Resistance

Daily

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>KO stock price is trading tight at the neckline of $55 and suggests a breakdown.</a> </li> 
 <li> <span>2</span> <a>Buyers are losing gains and are attempting to defend the support zone of $55.</a> </li> 
</ul> 
<p>Coca-Cola Company (KO stock) price showed a range breakdown and slumped below the cluster of $60, suggesting the entry of sellers and further selloff can be anticipated in the following sessions. Furthermore, the chart indicates that bulls have lost momentum, and bears have acquired traction and are about to violate the immediate swing of $50. Moreover, the KO stock price failed to top the immediate resistance of $65 and has faced downturns multiple times in the past few sessions.</p> 
<p>KO stock price action shows roller coaster moves, indicating neutrality on the charts. Furthermore, the KO stock chart structure shows that the price stayed inside the narrow range and is now waiting for a decisive move, either bounce or breakdown. However, the technicals indicate a breakdown, and KO stock may retest the round mark of $50 in the upcoming sessions.</p> 
<p>The bulls are looking for a pullback to retest the 20-day EMA, whereas sellers have gained momentum and are willing to lay KO stock to $50. However, if the price sustains near $60, short covering moves toward $65, and even $70 can be retested. Conversely, if it breaks $50, it will head for the $40 level. The lower trajectory is near $35, whereas the upper trajectory is near $80.</p> 
<p>At press time, KO stock price is trading at $57.94 with an intraday drop of 0.89%, showing neutrality on the charts. Moreover, the trading volume increased by 3.78% to 55.398 Million, and the market cap is $250.553 Billion. However, analysts maintained a neutral rating with a yearly target price of $70.32, suggesting a growth outlook for the coming sessions.</p> 
<p>Coca-Cola is the largest nonalcoholic beverage entity in the world, owning and marketing some of the leading carbonated beverage brands, such as Coke, Fanta, and Sprite, as well as nonsparkling brands, such as Minute Maid, Georgia Coffee, Costa, and Glaceau. Operationally, the firm focuses its manufacturing efforts early in the supply chain, making the concentrate (or beverage bases) for its drinks processed and distributed by its network of more than 100 bottlers. Concentrate operations represent roughly 85% of the company’s unit case volume.</p> 
<h2 class="wp-block-heading" id="strong-ko-stock-price-suggest-breakdown-on-daily-charts-strong"><strong>KO Stock Price Suggest Breakdown On Daily Charts</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/L1l53mzG8yIeJAS53-IQkn6NEWaht4fcScDzuSd-nUKtyR5RcjJaAbrvH67OVjIMkCctbvMqucAltciZSWc88DIPZhOoeZNoFnAiWFyAWDrsFG-rkcfU7iEe-m0aqFVuoQHyfFx1XQCcugWozGUX-tw" alt="Coca-Cola (KO Stock) Shows Weak Cues: Will It Survive Near $55?"> 
  <figcaption class="wp-element-caption">
    Source: KO Stock Price Chart At TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>On the daily charts, the <a href="https://www.thecoinrepublic.com/2023/09/04/ko-stock-price-forecast-dividends-ahead-is-coca-cola-at-sale/" rel="noopener noreferrer nofollow">KO stock price</a> trades below the significant moving averages and shows weak cues for the past sessions. Moreover, the chart signifies seller dominance, and KO stock may face further selloff and reach $50 soon. Moreover, the price is below the 50% Fib zone and will retest the 38.2% zone. Furthermore, the price is below the mid bollinger band, which indicates bearishness.</p> 
<p>The RSI curve stayed in the oversold region and showed a bearish divergence, suggesting a negative outlook on the charts.</p> 
<p>The MACD indicator showed a bearish crossover and persisted in forming red bars on the histogram, highlighting sellers’ dominance on the charts.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>Coca-Cola (KO stock) price finally broke the range and is trading below the neckline of $60, suggesting a sharp drop to $50 can be seen in the following sessions. Moreover, the chart structure suggests seller dominance and persists in adding short positions. Furthermore, the bulls could not halt the selling pressure and failed to hold the gains signaling weaker cues for the following sessions.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p><strong>Support Levels:</strong> $55 and $50</p> 
<p><strong>Resistance Levels: </strong>$65 and $70</p> 
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4> 
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.</p>

Coca-Cola (KO Stock) Shows Weak Cues: Will It Survive Near $55?

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Thecoinrepublic.com

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