Shares in Coca-Cola Company (The), (‘KO’) have made some gains in the first half of the second quarter with a top gains of around 10% before incurring losses and currently sitting at a minor profit of around 3%. The company is expected to report earnings for the quarter ending June 2023, on Friday 26th of July before market open. The consensus EPS is $0,71 compared to $0,70 in the same quarter last year.
Antreas Themistokleous at Exness: “ The company's financial image is not exciting nor dangerous. The current ratio is at 115% while the total assets outweigh the total liabilities with just over 1,5 : 1 as of 31/12/2022. On the other hand the company has been consistently paying out relatively good dividend yields of over 3% making the share of the beverage giant appealing to investors and pushing the price to the upside over the years. ”
On the technical analysis side the price has been performing well in the last 5-6 sessions on the daily chart and subsequently pushing the Stochastic oscillator to the extreme overbought levels. The 50 day simple moving average has crossed the slower 100 day SMA possibly indicating that the recent bearish candlesticks might continue to appear in the near short term outlook.
All in all the levels of $60,40 and $61,20 are the technical support and resistance areas since they are the 23.6% and 38.2% of the daily Fibonacci retracement levels. The resistance area of the Fibonacci is also around the area of the 50 & 100 SMAs making it a very strong levels of possible price reaction.