The Coca-Cola Company is one of the biggest beverage brands in the world. It has a host of food and beverage brands under its belt. The company sells 1.8 billion bottles of Coca Cola per day and that gives the company a deep presence in all corners of the world. In current times, Coca-Cola has recognized the shifting consumer preferences and, as a result, diversified into other products than sugar-based soft drinks. Coca Cola has been around for 130 years and its scale, competitive advantages, and brand will continue growing in the future as well.
The long-term monthly chart for Coca Cola shows a steady uptrend that began back in 2011. The trend accelerated in 2019 before the stock fell by a massive 38% in February 2020. The price briefly broke the bottom of the long-term trend. However, since hitting a bottom in March 2020, the stock has gained 27%. It has managed to stay above the bottom trend line for 3 months in a row and now looks poised to test the $51-level which was previously a support and can now act as a resistance. Stop loss can be placed somewhere below the bottom trend line around $42.
Position taken today at $ 48.49 with stop loss 13.84% below at $42. With short term take profit at $60 giving a return of 23%
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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