KO shares in a precarious position, consolidating in a tight channel between $39.50 and $41 during the last 3 weeks. A break below $39.50 looks imminent for a new multimonth low. Only a close above $41 could turn the tide. Short-term bearish.
KO stock price (6 months)
Chart courtesy of StockCharts.com. http://stockcharts.com
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