Today, prior to the beginning of the American trading session, quarterly performance data will be announced for one of the largest producers of fuzzy drinks, Coca-Cola Co (KO).
What situation can we expect on the eve of the news?
Technically speaking, the company’s shares have a strong support at $55 which is only 83 cent lower than their current price. And whatever the report will be (worse or better than expected), touching upon this level will create a good impulse for an upward movement of the price.
Thus, the news data will play the role of a catalyst for volatility, and the support will facilitate potential for an upward movement.
The expected target is $56.5
This content is for informational purposes only and is not intended to be investing advice.
