Coca Cola Share Price Remains Bullish
A gap down occurred mid February causing the price of Coca Cola to plunge. The plunge did technically complete the M sign. The M sign is a trading pattern which after completion leads to a reversal. Nevertheless, price of $KO has been able to maintain the support level at 44.58. And price, has since the plunge, began an upward movement. This movement is quite slow but the bulls are heavily taking charge of the $KO market.
Ichimoku has refused to show a bullish signal to complement this uptrend. Price of $KO was able to close above the cloud which might indicate a continuation of the uptrend. RSI has been able to show an oversold position in the daily chart. Also, price of $KO has been able to cross to the upper region of the Bollinger bands. This might eventually make $KO share price to move just above 49.00 from its current 47.29.