Resistance

Billion

<ul class="list-ic vertical">
 <li><span>1</span> <a>The price action analysis of Coca-Cola’s stock price illustrates the formation of an ascending triangle pattern.&nbsp;&nbsp;</a></li>
 <li><span>2</span> <a>Coca-Cola Company (NYSE: KO) is yet to announce quarterly results on Tuesday, 24th October.&nbsp;</a></li>
 <li><span>3</span> <a>Coca-Cola’s stock price slips near a two-year low.&nbsp;</a></li>
</ul>
<p>Coca-Cola Company (KO) stock price illustrates the formation of an ascending triangle pattern near the recent swing low. The stock price seems to be recovering from a sharp decline. The recent price decline dragged the KO Stock to a two-year low price.</p>
<p>Moreover, the recent decline has turned the pre-earnings sentiments on the bearish side. The daily chart shows that the Coca-Cola stock price respected an upper trendline as resistance and suffered rejection followed by short selling from the upper levels. The short selling took the price below the key moving averages and the stock price kept on declining steadily thereafter.<br><br>The Earning days are near due to which the stock price may remain volatile and show manipulative price action. Also, the price is currently struggling to recover the decline and forms an ascending triangle pattern. Good earnings may initiate a breakout and the stock price may show gains to reach the upper levels.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-coca-cola-company-to-announce-quarterly-results-strong"><strong>Coca-Cola Company To Announce Quarterly Results&nbsp;</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" loading="lazy" width="1600" height="747" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-638.png" alt="Coca-Cola Stock Recovered Before Earnings, Will It Turn Bullish?" class="wp-image-177576" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-638.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-638-300x140.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-638-1024x478.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-638-768x359.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-638-1536x717.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-638-750x350.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-638-1140x532.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
 </figure>
</div>
<p>The KO company is yet to announce quarterly results on Thursday, 24th October which may affect the price trend. The Wall Street analysts are estimating the revenues to be around $11.435 Billion and expecting the company to show earnings of $0.694 Billion. An outperforming earnings might attract investors and the stock price may recover.&nbsp;&nbsp;</p>
<h2 class="wp-block-heading" id="strong-coca-cola-stock-price-analysis-over-weekly-timeframe-strong"><strong>Coca-Cola Stock Price Analysis Over Weekly Timeframe</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" loading="lazy" width="1600" height="747" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-639.png" alt="Coca-Cola Stock Recovered Before Earnings, Will It Turn Bullish?" class="wp-image-177577" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-639.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-639-300x140.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-639-1024x478.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-639-768x359.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-639-1536x717.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-639-750x350.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-639-1140x532.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   Source: Coca Cola&nbsp; 1W. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a>
  </figcaption>
 </figure>
</div>
<p>Moreover, the weekly price chart shows a bullish close after a continuous decline of eight weeks. The decline has dragged the price below the 200-day EMA. The recent price decline has taken the price to a two-year low.</p>
<p>Also, the price took support from a round level of $50 which indicates the presence of buyers at the lower levels. The $50 level might be a strong support for the stock price.&nbsp;&nbsp;&nbsp;</p>
<p>The overall technical opinion rating including RSI and MACD signals an 88% “sell” with a strengthening short-term outlook on maintaining the current direction.</p>
<p>The analysts offering a 1-year price forecast for the <a href="https://www.thecoinrepublic.com/2023/10/17/coca-cola-stock-nyse-ko-continues-to-slip-will-ko-hold-50/" target="_blank" rel="noopener noreferrer nofollow">Coca-Cola stock</a> have a maximum potential of 37.44% on the upside which could lead the price to a high of $75. The minimum estimate of the analysts is also on the bullish side and expects a surge of 8.12% from the current price and hike the price to a high of $59.&nbsp;</p>
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4>
<p>Coca-Cola’s stock price is forming an ascending triangle pattern near a two-year low. The price is below the 200-day EMA and faces resistance from an upper trendline. The earnings report on Thursday, 24th October may affect the price trend.&nbsp;</p>
<p>Good earnings may trigger a breakout and a recovery. Bad earnings may lead to more decline. The $50 level is a strong support for the price. The technical indicators signal a sell with a short-term bearish outlook.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<ul>
 <li><strong>Support levels:</strong> $52.28 and $51.13.&nbsp;</li>
 <li><strong>Resistance levels:</strong> $54.95 and $57.09.</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.</p>

Coca-Cola Stock Recovered Before Earnings, Will It Turn Bullish?

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