Coca-Cola Enterprises Inc (NYSE: CCE)

Coca-Cola Enterprises, Inc. produces, distributes, and markets nonalcoholic beverages. It provides still and sparkling waters, flavored waters, juice and juice drinks, sports drinks, energy drinks, teas, and coffees. The company offers its products primarily under Coca-Cola, Diet Coke/Coke Light, Fanta, Coca-Cola Zero, Capri-Sun, Schweppes, Sprite, Chaudfontaine, Minute Maid, Oasis, Dr. Pepper, Monster, Nalu, Relentless, and POWERade Energy brands. It distributes its products through retailers, wholesalers, and other customers; and through licensed territory agreements in Belgium, continental France, Great Britain, Luxembourg, Monaco, the Netherlands, Norway, and Sweden.
To review Coca-Cola’s stock, please take a look at the 1-year chart of CCE (Coca-Cola Enterprises, Inc.) below with my added notations:

Over the last (10) months CCE has trended overall higher, while during the most recent several months the stock has formed a trend line of support (green). Always remember that any (2) points can start a trend line, but it’s the 3rd test and beyond that confirm its relevance. However, the stock also had a key level of support at $46 (red) that should act as resistance if CCE’s rally continues.

The Tale of the Tape: CCE has a trend line support and a $46 resistance. A long position could be entered on a break above $46, or on a pullback to the trendline, with a stop placed below the level of entry. A short position could be entered if CCE were to break below trendline or if the rally continues up to $46.
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