Daily Traders Edge

Trader aims to quadruple his money with a bullish bet on a Dow laggard – CNBC

December 16
15:25 2016

After observing some unique trading activity on Coca-Cola in the options market and spotting some bullish signs on the chart, one trader is betting on the beverage giant heading higher.

“[The] key level where it pivoted in December was $40,” Andrew Keene of AlphaShark.com said Thursday on CNBC’s “Trading Nation,” examining a weekly chart of the stock.

The bullish “pivot” to which Keene refers was in the first week of December, when the stock touched just above $40, then bouncing to $42 by Dec. 9.

“Now it’s starting to march higher,” he added, pointing to Coca-Cola (KO) moving slightly above its 50-day moving average.

Continue Reading At CNBC

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