Since posting an intra-day low of $7.52 on November 24th, shares of CCL have been carving out an ascending flag formation.
This is a bullish continuation pattern and is bounded by support at $8.05 and resistance at $8.65. A break of the $8.65 level would point to a measured move targeting the June highs near $9.40.
You're not a member! Trial today
CCL is due to report earnings next Wednesday, the 21st.
In late November, the company advised that profits for the 12 months to December were expected to be $13 million higher than the consensus of $405 million.
CCL is scheduled to pay a 25 cent dividend on February 27th. At the current price, that pencils out to an annual yield of 5.5%.
Technically, an ASX close above $8.45 would suggest range extension to the $8.65 level.
Coca Cola Amatil
