Coca-Cola (KO) breaks 4 year uptrend
Coca-Cola (KO)
A nice bell-weather has closed (2-days now) below the upward recovery trend established in 2009 The BTM.
Add'l OBV has been on a downward trajectory most of 2012, breaking the two uptrends from 2009.
There are fundamental reasons for the decline, 10yr rates are competing with it 2.8% yield and elevated PE ratio.
I beleive that the stock will continue to trend down to a more compelling fundamental level. Doing a little Buffett analysis here, I think the price level between 32 and 34, set the area to pickup more shares. This price level will get you a better 3.3% yield, along with a more traditional 16 PE level. You've got the strong support established in 2011 at $32 level, and you've also got the 2/3 Fib lvl @34.
A good fundamental analysis at:
seekingalpha.com/article/1643652-coca-cola-nears-3-yield-after-pullback
A nice bell-weather has closed (2-days now) below the upward recovery trend established in 2009 The BTM.
Add'l OBV has been on a downward trajectory most of 2012, breaking the two uptrends from 2009.
There are fundamental reasons for the decline, 10yr rates are competing with it 2.8% yield and elevated PE ratio.
I beleive that the stock will continue to trend down to a more compelling fundamental level. Doing a little Buffett analysis here, I think the price level between 32 and 34, set the area to pickup more shares. This price level will get you a better 3.3% yield, along with a more traditional 16 PE level. You've got the strong support established in 2011 at $32 level, and you've also got the 2/3 Fib lvl @34.
A good fundamental analysis at:
seekingalpha.com/article/1643652-coca-cola-nears-3-yield-after-pullback
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