KO Likely to break through $50 and retrace back up

12 Ogo 2020

KO seems to be attempting it's 4th break above resistance at $50, post-crash. So long as the overall market holds, I believe it breaking above $50 is highly likely this month. If KO does break above $50 while abiding the ascending channel in the chart, I believe KO could reach $55-$60 with a momentum swing within the next 6 weeks. I picked up September 18th $50 strike calls for ~$0.50, so I'm expecting them 10x-20x if resistance it broken through within the ascending channel.

20 Ogo 2020

Nota

I've doubled down on my 50 strike calls for 20c, so my average is now 35c. I'm hoping for, but not fully expecting, a spike up, at which point I'll sell the tranche that I've bought down here, unless a breakthrough looks exceptionally promising near-term for one reason or another.

28 Ogo 2020

Nota

A breakthrough looks exceptionally promising if KO can hold today's gains. I'm now looking for KO to reach $52.50-$55 by expiration on September 18th.

28 Ogo 2020

Nota

There is a very clean wedge starting in March. I am fully expecting a break above $50 resistance by expiration.