Coca Cola Co Breaks The 200-Day MA, Here’s The Next Trade Level
Leading beverage company, Coca-Cola Co (KO), has been falling since November 5th, 2021. At that time, the stock traded as high as $57.16 a share. Since that high pivot, the shares have now fallen below the important 200-day moving average and currently trade at $53.06 a share. The stock does have some daily chart support around the $52.00 level, but in this volatile environment, it is prudent to look lower for major chart support.
The next major support level for Coca-Cola Co (KO) stock will be around the $47.00 area. This support level is where there is a major retrace level from the March 2020 lows to the November 2021 highs. It is also a prior breakout level for the stock going back to late August 2020. This makes the $47.00 level very solid chart support and a likely place where the stock would be defended by the institutional crowd.
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