Coca-Cola retests breached trend line - Analysis - 06-12-2021

Coca-Cola's stock (KO) rose 0.89% in the last session amid positive signals from the RSI after reaching oversold levels, while attempting to vent off the oversold saturation there and retest the upside trend line that was breached earlier, settling thereafter at 53.54, amid negative pressure from the 50-day SMA. 

Therefore we expect the stock to return lower, targeting the pivotal support of 52.35, provided the resistance of 54.50 holds on.

Expected trend for today: Bearish