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Coca-Cola Enterprises (CCE) Breaks Through Resistance at $35.62

Published on Thu, 02/28/2013 - 10:39
By Peter Chu

Shares of Coca-Cola Enterprises (NYSE:CCE) have bullishly opened above the pivot of $35.20 today and have reached the first resistance level of $35.62. Investors may be interested in a cross of the next upside pivot targets of $35.90 and $36.60.

Coca-Cola Enterprises Inc. markets, sells, manufactures, and distributes non-alcoholic beverages. The Company provides refreshments, including sparkling waters, juices, isotonics, teas, and sodas. Coca-Cola Enterprises operates internationally.

Coca-Cola Enterprises has overhead space with shares priced $35.58, or 6.3% below the average consensus analyst price target of $37.98. The stock should discover initial support at its 50-day moving average (MA) of $33.90 and subsequent support at its 200-day MA of $30.59.

Coca-Cola Enterprises share prices have moved between a 52-week high of $36.57 and a 52-week low of $26.05 and are now trading 37% above that low price at $35.58 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.6%.

By Peter Chu
pchu@fnno.com