Coca Cola, thanks to its flagship product, is the undisputed leader among non-alcoholic beverages. It is interesting that the company did not even apply for a patent for the production of its favorite drink. The coca-cola recipe is carefully guarded, and the company has achieved an amazing success thanks to great marketing efforts, the effects of which are visible on the company's quotations!
Before deciding to invest in Coca Cola, it is worth analyzing the quotation chart.
Coca Cola stock analysis
Source: Admirals MetaTrader 5, Coca Cola CFD, #KO, weekly chart. from December 31, 2017 to April 26, 2023. Established April 26, 2023. Past performance is not a guarantee of future behavior or future performance.
After Coca Cola's share price fell sharply due to the coronavirus and panic in the markets, the price quickly rebounded, entering a bullish channel over the past 2 years and surpassing pre-pandemic highs.
In September 2022, the price broke the lower line of the bearish channel heading towards an important support and resistance area. Eventually, the price bounced off this support and re-entered the ascending channel.
Since the beginning of 2023, the exchange rate has been moving in a fairly narrow price range (65-58) and there is no clear trend at the moment.
If there is a sustained break of the support around $55, the price may start moving towards the next support near $50.
In the event of a rebound and passing through the $65 resistance, an upward wave may be activated and new highs may be made.
How much does it cost to buy Coca Cola shares?
At Admirals, Coca Cola shares carry a commission of $0.02 per share, with a minimum commission of $1. Add to this the share price at the time of purchase and multiply it by the number of shares you want to buy. Be sure to check current commission promotions.
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