The Coca-Cola Company (KO)

Strong rally which started just under $50 in the middle of the year seems to be taking a breather for a
while. KO had reached its price objective at $63.07 as it hit the peak at $64.63. The stock recently fell to
$62.87, just above trendline support at $62.60.

Technical indicators showed mixed signals with exponential moving averages stay below the price. EMA
50 at $61.28, EMA 100 at $59.22, and EMA 200 at $56.97 suggest that the uptrend remains intact.
MACD however, showed a crossover recently, indicating short-term weakness.

Supports are scattered below but the nearest will be the trendline support at $62.60. Next will be the
prior low at $61.82, followed by the EMA 50 at $61.28 which is within the proximity of the first Fibo
retracement level at $61.05. The next one lies at $60.30.
Once the correction is over, the number one soft drink maker will return to explore the heights beyond
$64.63. Based on the most recent price movements, first objective is spotted at $70.78. Next, it will aim
at $71.48. Successfully breaching $71.48 will open the gate towards a more aggressive target at $93.49.

Statistics
KO gained 3.02% in November. Its YTD gains are close to 11% while its 12-month gains amounted to
10.44%. In its 4 week throughout November, KO gained 2.05% during the first week, advanced 0.54%
throughout the second week, added another 2.23% during the third, but declined 0.33% during the final
week.

The strategy
Look to BUY KO around $62.60, with additional entries along its subsequent support levels. The
objective of the long position is another challenge of $64.63 top, with breakout leading KO to test next
objective at $70.78, followed by $71.48.

Disclaimer: This report is provided for information purposes only. It is not an offer to sell or to buy any
securities. This report has been prepared based on sources believed to be reliable, but there is no
assurance or guarantee regarding its completeness & and accuracy. The author accepts no responsibility
or liability arising from any use of the report.