Coca-Cola Company (KO) declined in its latest intraday trading, breaking below its 50-day SMA, which has increased near-term negative pressure on the stock. This move comes alongside the emergence of a negative crossover on the RSI, reinforcing short-term weakness. However, the main bullish trend still dominates the medium term, with price action continuing to move alongside a supportive upward trendline, which limits the downside risk for now.

 

Therefore we expect the stock price to move higher in the upcoming trading, as long as it remains stable above the support level at $68.80, to target the resistance level at $71.30.

 

Today’s price forecast: Neutral