$KO COCA COLA DIVIDEND KING (oversold) took big dump
Will update
Trading opportunity on an oversold dump for some quick profits
Resistance $56-59, should get a bounce from $48-$51 area.
Its possible that KO may have topped out. But its a large cap that's heavily traded (presuming many large traders actively buy & sell to keep a low cost position to reap the dividends).
Large pullbacks like this amount to nice rallies even if the rallies fail, they provide trading opportunity to bank some profits before resuming lower (great way to build position on the way down is by buying the lows and offloading large portion on the rallies while keeping risk-free or low cost "moon bags" - this can be done with any asset but with dividends stocks, the benefits is those moon bags provided dividends)
Worth looking into even if just trading, KO holds well, bounces are strong and heavily traded between the support & resistance levels.
Trading opportunity on an oversold dump for some quick profits
Resistance $56-59, should get a bounce from $48-$51 area.
Its possible that KO may have topped out. But its a large cap that's heavily traded (presuming many large traders actively buy & sell to keep a low cost position to reap the dividends).
Large pullbacks like this amount to nice rallies even if the rallies fail, they provide trading opportunity to bank some profits before resuming lower (great way to build position on the way down is by buying the lows and offloading large portion on the rallies while keeping risk-free or low cost "moon bags" - this can be done with any asset but with dividends stocks, the benefits is those moon bags provided dividends)
Worth looking into even if just trading, KO holds well, bounces are strong and heavily traded between the support & resistance levels.
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I suspect strong suport at $48-50$ area
Set stop loss just below 1.618 (if breaks below then we have to favor further downside)
Set stop loss just below 1.618 (if breaks below then we have to favor further downside)
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or what if KO still got another bullish leg to complete?
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boomer stocks holding well
its all we were looking for, some profits off the lows
its all we were looking for, some profits off the lows