CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Coca-Cola reports strong quarterly results and raises guidance

13:28 21 July 2021

Coca-Cola (KO.US) stock rose nearly 2 % in premarket after the world's largest soda maker posted upbeat quarterly figures. Company earned  68 cents per share beating consensus estimates of 56 cents per share. Revenue of $10.13 billion beat market expectations of  $9.32 billion. Coca-Cola also raised its full-year sales and profit forecasts, as demand rebounds for its beverages from the re-opening of theaters, restaurants and stadiums. For the full year, Coke now expects to deliver organic revenue growth of 12% to 14%, up from its prior outlook of high-single digit growth. The company also raised its forecast for adjusted earnings per share growth to 13% to 15%, up from the prior range of high single digits to low double digits.

Coca-Cola (KO.US) stock price is testing local highs at $56.80. Should current sentiment prevail, then the upward move may accelerate towards all-time high at $60.27 which coincides with the upper limit of the ascending channel. On the other hand, should bears regain control, the nearest short-term support to watch lies at $55.05 and is marked with a 78.6% Fibonacci retracement of the last downward wave. Source: xStation5

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