Account

New to ADSS? Open an
account now to get started.

OR

Already have an account?

Add funds to your ADSS account

Account

New to ADSS? Open an
account now to get started.

Add funds to your ADSS account

Trends & Analysis
News
Is Amazon a best-buy for the holidays?
News
China stocks end mixed despite PBoC announcement
News
Asia stocks rise on prospects of Fed easing hikes
News
HP joins the tech layoff spree
News
Will the euro give the bulls 200 reasons to smile?
News
Best Buy shares spike amid upbeat Q3 print
Trends & Analysis
News
Is Amazon a best-buy for the holidays?
News
China stocks end mixed despite PBoC announcement
News
Asia stocks rise on prospects of Fed easing hikes
News
HP joins the tech layoff spree
News
Will the euro give the bulls 200 reasons to smile?
News
Best Buy shares spike amid upbeat Q3 print

Account
New to ADSS? Open an
account now to get started.
Open an account Login

Asset Watch

Can Coca-Cola’s stock continue to pop?

 

Thursday, October 27 2022

Coca-Cola poured in the profits on Oct. 25, as the beverage giant surpassed analysts’ third-quarter estimates. With resilient demand and higher prices bolstering growth, CEO James Quincey said, “Given our strong results year to date, and increased visibility into the rest of the year, we are raising our top-line and bottom-line guidance.”
He added: “Consumer elasticities in core categories have continued to hold up well,” and “our system has never been stronger.”
As a result, Coca-Cola continues to navigate the macroeconomic environment quite well. But with the technicals less optimistic, will the rally fizzle out in the day ahead?

Supporting the bulls, Coca-Cola closed above its January, March and June lows on Oct. 25, and the milestone is highly bullish. Yet, the rally stalled when Coca-Cola reached its declining resistance line drawn from the August high.

Furthermore, Coca-Cola’s 50-day moving average stands at 59.44, which is less than 1% above the Oct. 25 close. In addition, the beverage giant has not closed above its 50-day MA in roughly two months. Therefore, the key level may prove problematic.

On top of that, Coca-Cola’s daily RSI ended the Oct. 25 session at 59, which is still below overbought levels. However, with the metric less than four points away from the July and August highs, substantial hurdles are present in the near term.

Will Coca-Cola give back some of its recent gains, or is a breakout above the 50-day MA poised to keep the momentum alive?


Site by Pink Green
© ADSS 2022


Investing in CFDs involves a high degree of risk that you will lose your money due to the use of leverage, particularly in fast moving markets, where a relatively small movement in the price can lead to a proportionately larger movement in the value of your investment. This can result in loses that exceed the funds in your account. You should consider whether you understand how CFDs work and you should seek independent advice if necessary.

ADS Securities LLC (“ADSS”) is authorised and regulated by the Securities and Commodities Authority (“SCA”) in the United Arab Emirates as a trading broker for Over the Counter (“OTC”) Derivatives contracts and foreign exchange spot markets. ADSS is a limited liability company incorporated under United Arab Emirates law. The company is registered with the Department of Economic Development of Abu Dhabi (No. 1190047) and has its principal place of business at 8th Floor, CI Tower, Corniche Road, P.O. Box 93894, Abu Dhabi, United Arab Emirates.

The information presented is not directed at residents of any particular country outside the United Arab Emirates and is not intended for distribution to, or use by, any person in any country where the distribution or use is contrary to local law or regulation.

ADSS is an execution only service provider and does not provide advice. ADSS may publish general market commentary from time to time. Where it does, the material published does not constitute advice, or a solicitation, or a recommendation to a transaction in any financial instrument. ADSS accepts no responsibility for any use of the content presented and any consequences of that use. No representation or warranty is given as to the completeness of this information. Anyone acting on the information provided does so at their own risk.