COCA-COLA CO. - Coca-Cola Company (KO) - 02/06/2024 (GMT)

Coca-Cola Company's (symbol ‘KO’) share price rose by 5% in the last quarter of the year and managed to gain back some of the losses incurred in the previous quarters of the year. The company’s earnings report for the fiscal quarter ending December 2023 is set to be released on Tuesday 13th of February, before market open. The consensus EPS for the quarter is $0.48 compared to the same quarter last year of $0.45.  ‘ The company had consecutive increases in its net income throughout the whole of 2023, with the last recorded figures on 30/09/2023 showing an increase of around 8% year over year. Cash on hand also marked a 16.75% increase year over year, while the long-term debt was reduced by almost 4%. To add to the positive image comes the dividend yield, which is slightly more than 3%, making the share of the beverage giant an attractive addition to any long-term investors portfolio.’ said Antreas Themistokleous at Exness.  From the technical analysis perspective, the price has faced strong resistance on the upper band of the Bollinger bands as well as the 61.8% of the daily Fibonacci retracement level and has since corrected to the downside. The 50-day moving average is trading well above the slower 100-day moving average, validating the overall bullish momentum in the market. At the same time, the Stochastic oscillator is near the extreme overbought level, hinting that there might be a continuation of the recent correction in the near short term. On the other hand, the 20-day moving average is acting as a support, which could completely decline the correction narrative since it is also combined with an inside support level where the price reacted in mid-January and could potentially support the downward momentum of the price, resulting in a resumption of the bullish direction.