The Coca-Cola Company : A new bullish impetus?
Entry price | Target | Stop-loss | Potential |
---|
US$68.55 |
US$0 |
US$67.75 |
-100% |
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The world’s largest leader in the production and marketing of non-alcoholic beverages has released a quarterly revenue of $11.04 billion. Analysts polled by Thomson Reuters had most forecast revenue of 10.99 billion.
For the fourth quarter, the group has recorded a net profit of $1.67 billion, $0.72 per share, from $5.78 billion, a year earlier. Excluding asset impairments, restructuring and productivity initiatives, earnings rose to $0.79 from $0.72.Besides, Coca-Cola announced a new productivity program which it hopes generate $550 to $650 million in savings by 2015. According to Thonsom Reuters’consensus, average target price is targeted at $75, which represents a potential of 9%.
In daily data, we can notice a high volatility until early january. Currently, the stock is staying in a congestion area around $68 which might exit by an upward movement to intermediary line at $70.15. A bullish impetus might be bolstered by the 20 and 50-days moving averages.
Thus, it would be advisable for market operators to take a buy order at the current price and to aim at $70.15. To avoid a disappointment, we suggest a stop loss under $68.
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