SLOPolarBear

KO Impending Breakout

Long
NYSE:KO   Coca-Cola Company (The)
Coca Cola has been in a long consolidation period since March. You can tell she has been aching to break out. The volume during this period combined with occasional price tests tells me the insiders are loading up on this stock. On the daily chart, we can see low volume price testing (that candle was much too big relative to the volume) on Jul 31 and again on Aug 3. It's looking like the last of the sellers have been squeezed out. The past 4 trading days sessions have given us modest increasing volume along with modest increasing price (which is significant: we haven't had 4 consecutive up days since prior to the pandemic). I love to see setups like this right before a breakout. I'm long @ 47.80.
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