Ascending Triangle with near-term 5% upside
Updated
After coming up short on earnings KO seems to have entered an accumulation phase forming an ascending triangle that presents a possible 5% upside move in the near-term. The 3.5% yield also provides an attractive long-term hold incentive if the current uptrend continues and this pattern plays out in our favor.
Trade closed: target reached
Great gap fill and target reached after earnings. Taking profit here and waiting for reentry.
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