DOW JONES OVERVIEW: COKE IS IN MACRO RANGE, SHORT TERM RISKCoca-Cola trades in macro range - on 5 and 10 year basis.
Price is now currently trading between 2 key levels. The lower level is 5-year (260 weeks) mean. The higher level is upper 1st standard deviation from 10-year (520 weeks) mean.
Price trading within 1 standard deviation is not trending, thus the range outlined above is lateral.
On short term basis, however price succeeded in falling below the 1st standard deviations from quarterly (66 days) and 1-year (264 days) means, thus it is on a downtrend risk here at the moment.
Overall situation hints that the price is likely to remain in the long term range for observable future (38.00-40.50)
