Coca-Cola quotes continue to move within the correction and bullish channel. Moving averages indicate the presence of a short-term sideways trend in KO. Prices broke through the area between the signal lines down, which indicates pressure from sellers of securities. At the time of publication of the forecast, the value of Coca-Cola shares is 54.30. As part of the forecast of the KO stock price, we should expect an attempt to develop a correction and a test of the support level near the 52.00 area. Next, a rebound up and a continuation of the rise in the value of securities. The potential target of such a movement is the area above the level of 62.50.
An additional signal in favor of the rise of KO quotes will be a test of the support line on the relative strength indicator (RSI). The second signal will be a rebound from the lower border of the bullish channel. The cancellation of the option of increasing the quotations of the Coca-Cola company's share price will be a fall and a breakdown of the 50.00 level. This will indicate a breakdown of the support area, as well as the lower border of the channel and the continuation of the fall to the area at the level of 45.00. We should expect an acceleration of the stock's rise with a breakdown of the resistance area and a close above the 57.50 level.
Coca-Cola shares forecast for July and August 2021
Thus, Coca-Cola shares forecast for July and August 2021 suggests the development of a correction and a test of the support area near the level of 52.00. From where we should expect a rebound and an attempt to continue the stock's rise to the area above the level of 62.50. The trend line test on the relative strength indicator will be in favor of the growth of securities. The cancellation of the KO rise option will be a fall and a breakdown of the 50.00 level. This will indicate a breakdown of support and a continuation of the fall in the price to the area below the level of 45.00. As you can see, the technical analysis of Coca-Cola shares indicates the probability of a minor correction, but the potential for a rise is quite serious.