After posting a 9-year low at $7.50 on November 24th, shares of CCL have climbed over 12% and are currently at $8.52.
CCL traded as high as $10.85 last March and technically looks as though the share price has bottomed.
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The $250 million share buyback scheme has lowered the NPAT to $190 million but return on capital has increased to 20% in H1 2017.
Aside from their carbonated products, CCL has a growing presence in the alcohol and coffee sector across Australia, New Zealand and Indonesia.
CCL will go ex-dividend on February 27th and pay 25 cents per share, fully franked. At the current share price, that equals a 5.4% yield.
The internal momentum indicators are rising and we see the next level of resistance at $8.95.
Coca-Cola Amatil
