Yesterday, we looked at a Daily Price Chart of Copart, Inc. and noted that the stock had been making a series of 52-Week Highs.
Today’s Chart is for Coca Cola Co. (NYSE: KO).
The Daily Price Chart below shows that KO has traded in a clear bullish pattern of higher highs and higher lows since November.
Track the Price Chart from lower left to the upper right…
When we see stocks making a series of two or more higher highs and higher lows, we can reliably be assured that the stock will continue on in an upward trend.
So this trading pattern points to a bullish advance.
But it’s important to note that strong stock rallies have pullbacks along the way…
Which, for the savvy investor, indicates fresh buying opportunities.
Purchasing shares of KO after a 3 to 5% price pullback has provided a good entry point for the stock this year, and has produced a healthy return.
We’ll keep watching KO as it tops its previous highs and waiting for price pullbacks.
Maximizing Our Profit Potential
Additionally, we’d like to talk about how a previous Chart of the Day stock has done…
On December 4th, we highlighted ProShares UltraPro S&P 500 (NYSE: UPRO), noting that UPRO had pulled back after being temporarily overbought.
If you happened to have purchased UPRO shares on that day, you’d already be up 19.12%.
But… if you had purchased the right option contract, you would be up 123.01% in less than two months’ time!
That’s after only one trade.
I developed my premium research trading and training service, PowerTrend Options, for the express purpose of finding these life-changing chances.
Not by trading with my gut, but by trading by the numbers — pure technical analysis. My PowerTrend “X-Ray” system has seen me through more than 30 years of successful trading and competing. It built the life my family gets to live now.
In fact, that’s the whole thesis of that options research service — the right trade has the power to set you on the path to living the life of your dreams.
But we know that some people like to walk before they run… and so we designed a class just for them, called the Thunderbird Options Course. Complete with syllabus, videos, and quizzes. Check it out if you haven’t yet!
Editor, Chart Of The Day