Photo by Maximilian Bruck on Unsplash
Today’s instrument is the Coca-Cola Co.’s stock traded in the NYSE exchange under the ticker (KO).
When we look at the KO‘s chart, we see its steady climb from the $61.25 range earlier this week until the 9th of February where there was a retraction to the $61. During yesterday’s premarket session there was increased volatility causing its wild swings from the high of $62.75 to the lowest $59.50, opening at in the $62 Coca-Cola Co. had scheduled quarterly earnings announcement yesterday 10/02/2022 during premarket, hence the higher volatility, where they reported higher than expected earnings beating the estimates. It was last found trading at $61.38 with the closest overhead resistance of $62.25 and the closest support level at $60.25.
Today we can expect a move towards $62.5 resistance.
If however, it doesn’t manage to hold on to the current level then a move towards the $60.80 support can be expected.
(Click on image to enlarge)
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