After rallying over the last three years, the Coca-Cola Company (NYSE:KO) looks to be setting up to reverse course and give back some of its gains. Why have I turned bearish on KO?

KO recently broke its 1-year uptrend and created a double top reversal. After forming this double top reversal, KO broke double top support at 57 late last week on heavy volume. As well as forming this geometric pattern, there is a bearish cross in the 26-, 50-, 101-exponential moving averages.



Andy Swan is co-founder and head trader for DaytradeTeam.com. To get all of Andy's day trading, swing trading, and options trading alerts in real time, subscribe to a one-week, all-inclusive trial membership to DaytradeTeam by clicking here.