Coca-Cola's Bulls Have Something to Prove

Coca-Cola (KO) made a shallow pullback in the past two weeks but the overall position of the indicators are still mostly positive. Therefore, I will be watching to see if KO resumes its uptrend or if it turns lower, leaving the Dow Jones Industrial Average with one less stock to maintain the uptrend.

Looking at a daily bar chart of KO, below, we can see that prices above the rising 50-day moving average line and above the 200-day average line, which is now turning up. The daily On-Balance-Volume (OBV) line has been rising since early January and helps to confirm the advance. A rising OBV line happens when the volume on up-days is heavier than on down days. The only indicator that isn't moving up is the Moving Average Convergence Divergence (MACD) oscillator, which crossed to a take profits sell signal earlier this month....115 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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