When we look at the Coca-Cola Co (NYSE:KO) chart, we see its steady climb from the $61.25 range earlier this week until Feb. 9, where there was a retraction to the $61.
During yesterday’s premarket session, there was increased volatility causing its wild swings from the high of $62.75 to the lowest $59.50.
Opening at $62, Coca-Cola had scheduled quarterly earnings announcement yesterday during premarket, hence the higher volatility, where they reported higher than expected earnings beating the estimates.
It was last found trading at $61.38 with the closest overhead resistance of $62.25 and the closest support level at $60.25. Today we can expect a move towards $62.5 resistance.
If, however, it doesn’t manage to hold on to the current level, then a move towards the $60.80 support can be expected.