#KO #stock #long
On the daily the KO has formed an inverse H&S, a very bullish formation. The MACD is poking up and so has the Stoch RSI. The obv is not great, but it is not all that bad either. Expect a 1.61 RRR. I would shoot for a Jan19 $42 strike price call, bid ask 3.85 4.0.
*****side note 1****
KO is a good proxy gauge for the overall market. The stock is less volatile and there is less noise around it. The stock looks like it may have found a near term bottom inside of it's longer term bearish distribution. KO and the broader stock market may be near an important low for the year, thus there maybe some buying opportunities.
****side not 2****
these ideas are just my personal opinions. I am not investment guru. Take them for what they are
Weekly
Higher low has formed in the stock. MACD looks to be setting up for an upward breakout. OBV has held steady during recent slump, suggesting core institutional investors still like the stock and are now easily swayed by recent market turbulence. Stoch RSI also looks to be setting up for an upward move.
