ALGO Update: Stay short CCL

Our ALGO engine triggered a sell signal for CCL on December 15th at $8.60.

As illustrated in the chart below, the share price has formed a “triple top” formation at the $9.10 level over the last 8-weeks.

You're not a member!  Trial today!

In their last report, CCL booked a 10% rise in earnings for its alcohol and coffee business, while the soft drink, juice and energy business fell 6.5%.

We see the first level of support at $8.50, followed by $8.10.

Investors trading on our SAXO Go platform can look to sell CCL with a stop order just above $9.20

Coca-Cola Amatil

 

 

 

Author: Todd

Todd has worked in the financial industry for 20 years. During this time, his primary focus has been in the Foreign Exchange, Global Equities and Fixed Income areas. Todd has also served as a Judicial Advocate in several tax cases in the US Federal Court.