Today’s instrument is the Coca-Cola Co‘s stock traded on the Nasdaq exchange under the ticker KO. 

When we look at the KO‘s chart, we can see its climb from the $65 level on the 20th of April to the high of $66.75 on the 22nd of April and the retraction to the $64.5 level the next day as probably in anticipation for its Earnings announcement scheduled for the 26th of April. The results were positive leading to the spike in the open, rising from the $64.5 to as high as $67 but ultimately returning to the $65 range where it was last found trading.

Today we can expect a move close to the $64.5 support level as overall market conditions worsen.

If however, it manages to hold on to the current level then a move towards the $67 resistance level can be expected.

(Click on image to enlarge)