Coca Cola (KO) hits all time high

  • 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

Coca Cola

Editor in chief

Steve Miley has 29 years of financial market experience and as a seasoned expert now has many responsibilities. He is the founder, Director and Primary Analyst at The Market Chartist, the Editor-in...continued

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