2020-07-20 • Dikemaskini
The beverage giant will publish the results of its second quarter 2020 on July 21 at 15:30 MT time. Don’t miss out.
The second quarter was the worst period for over 100 years for Coca-Cola. The whole world was severely impacted at that time by the coronavirus. Notably, the first two weeks of the quarter might have been the most challenged during the coronavirus. The virus spread has been taken under control in most western countries, while the USA is still suffering from the fresh virus resurgence. Therefore, the multinational Coca-Cola corporation was in in a better position than other companies, which were locked inside of the country. 70% of Coca-Cola retails sales occurred abroad.
Nearly three-fourths of Wall Street analysts are bullish towards the stock. Why do others have bearish prospects? The main reason is that the beverage business was hugely damaged by lockdowns and stay-at-home regimes. It will take a lot of time to reach pre-crisis levels for the company. However, Coca-Cola is also a Dividend King. It’s a prestigious group of companies, which were raising their dividends for at least 50 consecutive years. Coca-Cola has been the holder of the title for 57 years! It’s the best proof of the company’s reliability. That’s why it’s hardly to believe that it may disappoint its investors.
Let’s have a look how the stock had been performing during the previous crisis in 2008. It hugely decreased from its peak near $29 to almost $20 in March 2009. However, it managed to fully recover after that recession in early 2010. Based on its previous experience, analysts widely expect that this time the stock’s performance should be the same. The company has already shown the healthy recovery rate. Moreover, the whole world is gradually recovering, demand is increasing too. Thus, Coca-Cola will rebound as well.
The stock entered the horizontal corridor. It has been trading in a range between $43.3 and $50.0. Today it closed in red. If it falls lower, it may meet the support at $45.5. The move below will push the price to $43.3. Otherwise, there is a resistance at the high if July 17 at $46.8. If it breaks it through, it will surge to the next resistance at the high of July 3 at $48.0 and then at the top of the range at $50.0.
Follow the report! If the earnings report comes better than expected, Coca-Cola will surge.
Otherwise, if the earnings report comes worse than expected, Coca-Cola will fall.
Your plan to trade Coca-Cola:
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