After coming up short on earningsKO seems to have entered an accumulation phase forming an ascending triangle that presents a possible 5% upside move in the near-term. The 3.5% yield also provides an attractive long-term hold incentive if the current uptrend continues and this pattern plays out in our favor.
Trade closed: target reached:
Great gap fill and target reached after earnings. Taking profit here and waiting for reentry.
$KO broke out nicely from its ascending triangle pattern and has confirmed support at its previous resistance level. It is a bit of an underperformer compared to some of the other trades but its monthly chart is prepped for a possible upwards breakout and we have seen this sharp rise higher in previous months.