Coca-Cola Amatil Limited (CCL.ASX)

6 March 2018

Technical Summary: It has been a pretty depressing 5 year chart for holders of CCL. The stock has consistently found it way to new trading lows. The few rallies that there have been have typically stalled out, before letting investors down. Traders and investors should therefore be cautious of the recent strength that the stock has shown. The stock may have rounded out a bottom having put in a low, retesting it and then finding its way to a couple of higher low. The action seems constructive and could be buyable on strength from here. Because of a history of failure on strength traders should implement disciplined risk management. One negative for holders is that it could be a long road to fresh highs due to the amount of supply that could be built up on the left side of the chart.

Despite the left side, recent price action looks constructive

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