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We first recommended Coca-Cola on June 27, 2009 at $24.07 (U.S., adjusted for split). Subsequently, the stock traded in a rising channel (dashed lines) and reached a recent high of $43.43 (A) for an 80-per-cent appreciation at that time. The long-term rising channel has been intact since 2009. The current pullback to its 40-week moving average (40wMA) provides another attractive entry point (B). Only a decline below about $39 would be negative.

Point & Figure measurements provide targets of $49 and $54 . Higher targets are visible.

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About the Authors
Senior Technical Analyst at Phases & Cycles Inc.

Monica Rizk, Senior Technical Analyst, has a Bachelor's degree in Business Administration and completed the Canadian Securities Institute course. She has been with Phases & Cycles since September 2000 and specializes in the research of Canadian and US stocks using Point & Figure as well as bar chart analysis. More

President of Phases & Cycles Inc.

Ron Meisels, President, Phases & Cycles Inc., has been active as an Analyst since 1971. He was Vice President and Director of Technical Research of Nesbitt Thomson (now BMO Nesbitt Burns) from 1982 to 1990. He was ranked among the top three technical analysts by Canadian Institutions for six consecutive years (Brendan Wood Survey). More

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