Will Coca-Cola HBC continue to fizz?

by Alistair Strang from Trends and Targets |

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.

Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest. Neither Alistair Strang, Shareprice, or Interactive Investor will be responsible for any losses that may be incurred as a result of following a trading idea. 

These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties. The content is not intended to be a personal recommendation, and is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.

Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.

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