Coca-Cola Consolidated drops 8.3% in confirmation week
Coca-Cola Consolidated drops 8.3%, finds a clean double bottom in the 168 area
Coca-Cola Consolidated drops 8.3% in confirmation week
Our view last week
Coca-Cola Consolidated opens a fresh buy signal, the first of the series: bullish weekly structure, signal strength at 65 out of 100 and setup quality indicator at 59, in ordinary phase. The stock ranks 6th among the 10 fresh buys for US stocks. Our model flags trading not recommended though: the price is hugging the highs, with little room to run before the next historical resistance.
This week's summary
In its first week of trading, Coca-Cola Consolidated stock dropped 8.3%, but the decline stopped at a clean double bottom in the 168 area, with an intermediate 20% rebound. The confirmation week still closes negative, and our model's weekly technical analysis flags the exit as worth considering: signal strength already down to 47 out of 100, ADX declining, and setup quality at 43. The stock slides to 89th place among the 129 US Longs still open.
IQS Phase
43
ordinary
Signal Strength
47
medium · weak
Sizing
REDUCED
Ranking
#89 / 129
US stocks in progress
Trade P&L %
-8.35%
from signal to today
restricted Platinum content