Coca-Cola (KO) Coke Sparks Rally – Aug 8th, 2019
The bullish DailyPlay we chose for Thursday, Aug 9th is Coca-Cola (KO). KO is part of the Consumer Staples Sector (XLP). XLP has declined 0.41% lower over the past month and its 1m trend turned mildly bearish yesterday but bounced higher off its $58 support level after being oversold.
Coca-Cola’s 1m and 6m trend turned bullish yesterday and recently bounced higher off its $52 support level. With a technical score of 8 (out of 10), KO is a strong stock that will likely continue higher.
As a stop loss, if KO was to trade below $52 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.
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