Based

Million

Resistance

Reversal

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>KO stock price has dragged below the 20 day EMA and showed bearishness.</a> </li> 
 <li> <span>2</span> <a>Buyers have lost momentum and are in trouble.</a> </li> 
</ul> 
<p>Coca Cola Company (NYSE: KO) KO stock price was trading in a downtrend and has showcased selling pressure for the past sessions. Moreover, the price action shows that buyers failed to hold the significant support zones and due to intense selloff, KO stock persisted in smashing the clusters. Furthermore, KO stock price was in a strong downtrend and has retested the demand zone of $50 in the past sessions. Thereafter, a pullback was noted on the charts and KO stock rose to retest the immediate neckline of $54.&nbsp;</p> 
<p>Coca Cola (KO stock) price has formed a hammer candlestick and made a bottom near $50. Last session, KO stock sustained the gains and closed in green showing that buyers are looking for a significant reversal and regaining strength. As per the options chain, at the strike price of $55, a massive open interest of 8474 hundred shares on the call side, whereas 7655 hundred shares on the put side shows incisiveness between the bulls and bears. Based on the price action, KO stock needs to surpass the immediate swing above the 20 day EMA near $56 for a smooth recovery, otherwise KO stock may retest $50 again.</p> 
<p>At press time, KO stock price is trading at $53.43 with an intraday gain of 1.02% showing neutrality on the charts. However, the trading volume decreased by 0.87% to 12.87 Million and the market cap is $231.05 Billion. Moreover, analysts have maintained a neutral rating with a yearly target price of $66.87.</p> 
<p>Coca-Cola Co. engages in the manufacturing and marketing of non-alcoholic beverages. It operates through the following segments: Europe, Middle East and Africa, Latin America, North America, Asia Pacific, Global Ventures, and Bottling Investments. The company was founded by Asa Griggs Candler on May 8, 1886 and is headquartered in Atlanta, GA.</p> 
<h2 class="wp-block-heading" id="strong-will-ko-stock-attain-reversal-or-continue-to-slip-strong"><strong>Will KO Stock Attain Reversal or Continue to Slip?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" loading="lazy" width="1600" height="752" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-499.png" alt="Coca Cola Stock (NYSE: KO) Continues to Slip, Will KO Hold $50?" class="wp-image-176502" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-499.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-499-300x141.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-499-1024x481.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-499-768x361.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-499-1536x722.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-499-750x353.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-499-1140x536.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   Source: KO Stock Price Chart At TradingView
  </figcaption>
 </figure>
</div> 
<p>On the daily charts, KO stock price is below the significant moving averages and has shown a downtrend in the past sessions. Furthermore, the price is trading below the 38.2% Fibonacci retracement zone and is close to the lower bollinger band showing a negative outlook on the charts. Furthermore, the chart indicates that amid the positive market sentiment, KO stock showed adverse reaction and broke the clusters decisively.&nbsp;</p> 
<p>The RSI curve is in the oversold region and shows a pullback in the last trading session highlighting buying interest.</p> 
<p>The MACD shoes a bearish divergence and red bars on the histogram, indicating sellers dominance on the charts.</p> 
<h4 class="wp-block-heading"><strong>Summary&nbsp;</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/10/16/qualcomm-stock-qcom-price-prediction-outlook-for-this-week/" target="_blank" rel="noreferrer noopener">Coca Cola (KO stock) price</a> retested the demand zone of $50 and halted the selloff highlighting the buyers’ accumulation and their willingness to attain a pullback. However, buyers need a strong momentum to defeat the bulls and must surpass the 20 day EMA for a smooth pullback, otherwise bounce will sell quickly and KO stock may face further downside ahead.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support Levels: $50 and $46</p> 
<p>Resistance Levels: $56 and $60</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<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 Stock (NYSE: KO) Continues to Slip, Will KO Hold $50?

Table of Contents

Thecoinrepublic.com

Other articles published on Oct 17, 2023

Reddit ends blockchain-based Community Points program amid regulatory challenges

Basel Committee Proposes Bank Disclosure of Crypto Exposure!

ESMA cautions retail crypto protection in EU delayed until 2024

Trump Slogan Inspired MEGA Token’s Extraordinary Surge

Bitcoin Price Dips Again While NuggetRush Presale Launches to a Frenzy

Cryptocurrency roundup: Today’s need-to-know stories

Join our free newsletter for daily crypto updates!