KO - Upside Down Cup & Handle (Breaking Out of Handle)

Short

Coca-Cola Company (The) (NYSE:KO)

Updated

NYSE:KO Coca-Cola Company (The)

Just did a write up on Cokes kid brother Pepsi, seeing identical patterns on the charts. Bearish upside down Cup & Handle. Anyone who reads my posts knows I love Coke and I'm a long time holder. I've decided to thin out my position in recent days in light of some bearish patterns developing over the past couple months. I plan to buy up more shares when a bottom emerges. Not cost effective to short this tortoise, but that's precisely the trade this pattern calls for at the present time.

Comment:

Link to Pepsi write-up:

PEP - Upside down Cup&Handle & Impending Breakout on Bear Flag

Comment:

There she blows.

Comment:

This pattern is un-resolved. If you're looking for a buy entry, this is not the time. Wait. It'll get cheaper. Look at Pepsi.

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