The bottling company's shares are fizzing, prompting our chartist to look for a game-changing high.
Coca-Cola HBC (LSE:CCH)
Despite laying on supplies for the children’s stay over the festive period, the news neither of the girls drink Coca-Cola HBC (LSE:CCH) raised eyebrows, not least due to the collection of two litre bottles awaiting their attention.
For some reason, our grandchildren transited to the land of Pepsi, preferably straight from the fridge. Chilled Pepsi, it transpires, is quite nice! But the jury is firmly out, it's flavour proving slightly overwhelming when used as a mixer.
A resolution to review the share price of Coca-Cola HBC duly followed, mildly curious whether the rest of the world has experienced a similar taste conversion. It appears the FTSE 100 index-listed bottling company still has some fizz left in it.
The group has existed in its current form since 2000, when the Hellenic Bottling Company acquired Coca-Cola Beverages. As a partner of Coca-Cola Company, it bottles, sells and distributes the world's most recognised soft drink along with Coca-Cola Light, Sprite, Fanta and a range of other sparkling, juice and energy drinks.
Currently, above 2,730p shares looks capable of a climb up to an initial 2,856p. If exceeded, our secondary is a useful looking 2,948p.
The reason we "like" 2,948p is closure above this point is liable to be game changing for the longer term, taking Coke's share price into a region where a new all-time high of 3,370p becomes very possible.
Unfortunately, visually it appears 2,856p should prove perfectly capable of giving a stutter in the current rising cycle.
Below 2,350p looks troubling as reversal to an initial 2,182p becomes expected. Secondary, when broken, is a bottom (hopefully) at 1,825p.
Source: Trends and Targets Past performance is not a guide to future performance
Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
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