Coca-Cola shares currently trading at around $60.16 a share. Resistance at $61.08 then at $62.76 then a key level at $65.46.

Financials

Looking at the beverage giant Coca-Cola, in its financial year of 2021 it reported $38.6bn in revenue and $23.3bn in gross profit. Currently operating at a 60% profit margin which is outstanding business. Its operating expenses did rise by around $1.5bn YoY but net still came in at $2bn higher than in the previous year. Additionally, due to the brilliant profit margin and yearly increases regarding EBITDA, earnings per share grew 25% in 2021. This was the biggest set of earnings for the company since 2010. Over to the balance sheet, cash-on-hand sits at $12.6bn with total assets at $94.3bn and total liabilities at $69.5bn. The rise in assets overshadowed the rise in liabilities, which contributed to the growth in equity by $3.6bn to $24.8bn. However, still a chunk off the levels seen back in the early years of the last decade ($30-$33bn).

Technicals

From a technical outlook, Coca-Cola’s stock is currently trading at $60.16 a share. We can see that an attempt to reach $65.46 (100% Fib) was made in December but failed to get close enough. Since then, the price has retreated towards $59.73 (50% Fib) which is acting as support. Further below, support levels also sit at $58.38 (38.2% Fib) and then at $56.71 (23.6% FIb). Towards the upside, resistance sits at $61.08 (61.8% FIb) then at $62.76 (76.4% Fib) then the key level at $65.46. A break above the key resistance could see the price of this stock rise as high as $67 a share. MACD is currently neutral and RSI is flat but negative as it reads 40.