Asia stocks drift lower tracking Wall St; Hong Kong rises as Nvidia cheer persists
Coca Cola Co. (KO) is selling off sharply after reporting earnings that were well below analysts expectations. KO stock is trading lower by $1.20 to $39.85 a share. This morning, right after the opening bell, our Intra Day Stock Chat room members played a scalp bounce play at $39.50 for a gain of 0.40 cents. We have been profiting from the morning gap trade on stocks this whole year and earning great gains. Often, when a leading stock declines it is always important to follow other stocks in the industry group that could lead to opportunities.
Pepsico Inc. (PEP) is another leading stock in the beverage and soft drink sector. Today, PEP stock is declining lower by $1.29 to $83.42 a share. Short term day traders can watch for intra-day support around the $83.00, and $82.53 levels. These are two important intra-day chart levels where PEP stock could get a bounce.
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