Coca Cola HBC could start a technical downturn after the rebound of recent sessions.
From a fundamental viewpoint, analysts have recently revised downward their EPS expectations. This situation could lead investors to sold the stock in the short run.
Technically, the security could run out of steam close to the GBp 1469 resistance, which also correspond to the downward trendline. Indeed, the stock is moving in an upward trend in the short term but it could know a halt near these resistances. In this context, the downward movement could improve and it should expect a return to GBp 1376. Indicators that show an overbought situation confirm this scenario.
Therefore, the proximity of mid-term resistance suggests a consolidation or a correction phase in the coming sessions. The most offensive could open a short position close to GBp 1469 to target a return on the GBp 1376 support. The position should be protect with a stop loss set above GBp 1469.
Coca-Cola HBC AG is is one of the world's leading producers and bottlers of non-alcoholic beverages (soft drinks and mineral waters). In 2023, the group provided 2,835.5 million beverage cases. Net sales break down by country as follows:
- emerging countries (46.5%): Nigeria, Romania, Bulgaria, Armenia, Yugoslavia, Bosnia and Herzegovina, Moldova, Russia, Serbia, Montenegro, Ukraine, etc.;
- industrialized countries (33%): Italy, Greece, Ireland, Austria, and Switzerland;
- developing countries (20.5%): Poland, Hungary, Czech Republic, Baltic States, Croatia, Slovenia and Slovakia.
COCA-COLA HELLENIC 
