Stock

Buy the Coca-Cola Company at $61 to sell at $70 in six weeks

The Coca-Cola Company (NYSE:KO) is a stock that investors should buy and hold in a bear market. The share is trading at $61. We think the stock is a buy as it maintains a predictable trend in price movements.

Coca-Cola is a company with strong brand equity. Its long history makes it a household brand. That applies to both the consumption of its products and investment in shares. In a bear market, investors are likely to turn to strong and renowned brands. Coca-Cola will therefore be on the watch lists of many investors.

Coca-Cola is on a predictable trend

Source – TradingView

Coca-Cola has support at $60 and resistance at $70. With the current price being $61, this analysis shows that Coca-Cola is poised to gain. The stock has been gaining this week after opening at $60.75. We project that it will continue rising gradually until it hits the valuation of $70. That process would take then 5 to 6 weeks.

The analysis observes that Coca-Cola is on a predictable upward trend. The lowest price that the stock can trade is the 50-day moving average. This is currently at $58.93. The stock triggers a buying signal each time the 10-day average intersects with the 20-day average. Investors can use these signals reliably to gain from the stock.

Summary

We recommend buying and holding Coca-Cola for the bear market season. The analysis also recommends active management of the stock with guidance from the trend. Investors can make money by buying the cyclical dips and selling at the cyclical peaks. 

The post Buy the Coca-Cola Company at $61 to sell at $70 in six weeks appeared first on Invezz.

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