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Was Yesterday's Market Action In Coke The Real Thing?

|Includes: The Coca-Cola Company (KO)

Yesterday (July 19), CNBC reporter Bob Pisani noted interesting (in the suspicious sense) sawtooth patterns in a few stocks. One of them was Coke (NYSE:KO).

Looking at yesterday's intraday chart of the stock, you can definitely see buying pressure on the hour followed by a large runup until the half hour where selling pressure forces the stock in the reverse direction.

Coincidence? That's a tough possibility to swallow, although the action is not being repeated today. Perhaps a quant testing out a new algorithm..?