Coca-Cola (KO) remains a reliable stock, backed by its global footprint and strong brand name. It witnesses strong pricing power, consistent volume growth, and resilient margins despite inflationary pressures. Also, the Dividend Aristocrat raised its payout by 5.2% in March, marking 63 consecutive years of increases, which reflects its strong financial position. Moreover, Coca-Cola stock is a Strong Buy, according to the technical indicators, implying further upside from current levels.
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Analyzing KO Stock’s Technical Indicators
According to TipRanks’ easy-to-understand technical analysis tool, KO stock is currently on an upward trend. The stock’s 50-day Exponential Moving Average (EMA) is 70.36, while its price is $71.67, implying a bullish signal. Further, its shorter duration EMA (20 days) also signals a Buy.
Further, the Moving Averages Convergence Divergence (MACD) indicator, a crucial tool for understanding momentum and potential price direction shifts, is currently signaling a Buy.
Another technical indicator, Williams %R, helps traders see if a stock is overbought or oversold. For KO stock, Williams %R currently shows a Buy signal, suggesting the stock is not overbought and has room to run.
Is KO a Good Stock to Buy?
On TipRanks, KO stock has a Strong Buy consensus rating based on 15 Buys and one Hold assigned in the last three months. The average Coca-Cola stock price target of $79.50 suggests an upside potential of 10.88% from its current price. Year-to-date, shares of the company have gained about 16.88%.
