The Coca Cola Consolidated is the largest independent bottler in the US for Coca Cola. The company has rights to produce, market, and distribute Coca Cola products across 14 US states representing a market of 65 million people. The company is effectively the operations arm of Coca Cola and its future is closely tied with that of Coca Cola. As Coca Cola is, perhaps, the most iconic beverage in the world with unparalleled brand strength, Coca Cola Consolidated long term growth prospects are bright.
The Long-term monthly chart of Coca Cola Consolidated shows a long-term uptrend that the company has been in for the better part of the last decade. This uptrend saw a major pullback from September 2019 to February 2020. The stock fell 44% during this time and went below a resistance zone at $251 which would have acted as a support.
Starting March 2020, however, the stock has resumed its uptrend. It has gained 40% from its March lows and broken past the $251 resistance zone. The price looks set to now re-test the $340 levels. A stop loss can be placed at around $220, below the $251 level which is likely to act as a support now.
Positions taken today at $275.06 with stop loss 27% below at $200.92. Short to medium term take profit set at $350 giving a profit of 27%
On the video and images above you will see the reason this stock was selected.
You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.
Once it is time to move the original stop loss up you will see an additional image.
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