- Coca Cola (KO) has surged through May and into early June.
- This has seen a push this week through the Q4 2018 high at 50.84 to a new all-time high.
- This has seen Coca Cola significantly outperformed the S&P 500 and also the Consumer Staples sector.
- From a technical analysis standpoint this sees both short- and intermediate-term bull trends that are intact and willing to overcome significant resistance, which leaves the threat into June for still higher prices.
Intermediate-term upside threats
The mid-May breakout from the 2019 broad consolidation Symmetrical Triangle set an intermediate-term bullish view.
This has been reinforced with the surge to a new record high in early June
Intermediate-term Outlook – Upside Risks: We see an upside risk for 52.75.
- Higher targets would be 54.40, 55.00 and maybe towards 57.30
- What Changes This? Below 48.41 shifts the intermediate-term outlook back to neutral; through 47.07 is needed for a bear theme.
Daily Coca Cola (KO) Chart