Coca Cola ($KO) has a pretty good run yesterday despite the average volume.
From the Ichimoku Chart, we can see how it opens low on Sept 6 and close high for the day. On Sept 6, the market is generally rallying upwards. What separates it from the rest is that $KO is supported by the kumo and it closes above the kumo; a breakout signal from the kumo.
The second confirmation comes the following day on Sept 7.
$KO gap up and make a move; breaking 2 resistance levels in one move and hitting a 52 week high in the process.
I believe $KO is going to head higher.
A peak at its Financial Ratio for Q3 (July 2011) from Google Finance suggest so.
|Q3 (Jul ’11)||2010|
|Net profit margin||22.01%||33.77%|
|Return on average assets||14.41%||19.51%|
|Return on average equity||33.28%||42.32%|
The third confirmation from the chart comes from the leading kumo.
We can see that it has ‘twisted’ and is showing a bullish trend moving forward; reversing from its previously bearish outlook.
$KO reporting earnings before market on Oct 18