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Coca-Cola is currently trading at 54.92-higher by 2.10% as compared to the previous closing price. In the pre-market trading session, the stock was trading higher by 2.70%. The stock has pared some of its earlier gains after the opening bell.
The company on Friday reported third-quarter earnings that were above the market expectation. Coke generated an adjusted EPS of 56 cents for the quarter ended 27th September. The EPS met analysts’ expectations. The company brought in $9.5 billion in revenue for the third quarter. The revenue was above the market expectation of $9.4 billion.
The company posted better-than-expected third-quarter revenue due to strong demand for its zero-sugar sodas and Coca-Cola Plus Coffee. Coca-Cola’s organic revenue grew 5% during the quarter. The company’s revenue growth was above the median forecast of 4.3%. Coca-Cola expects 1% to 2% currency headwind next year to impact its comparable revenue. Stocks of the company climbed about 14% so far this year.
On the technical front, the current price is above the MA5. The current price is above the middle line of the Bollinger Bands and is heading upwards. The RSI is currently at 59.59% and suggests that the market can move in the upward direction.
TRADE SUGGESTION- LIMIT BUY AT 54.75 TAKE PROFIT AT 55.05 STOP LOSS AT 54.60