Soda sultan Coca-Cola (KO: sentiment, chart, options) this morning reassured investors that any weak trends domestically should be offset by its international business in the second quarter and fiscal year. The blue chip stated that its North American operations have suffered from a "difficult economic environment," but its international business represents more than 80% of its operating income.

Right out of the gate, investors aren't exactly cheering the company's attempts at appeasement, as the shares of KO have shed 24 cents (or 0.41%), hovering near $58.35. And while the stock has been trending upward for the past couple of weeks, it may be in jeopardy of closing the month below its 10-month moving average for the first time in more than 2 years.

Despite the security's technical stagnation lately, the Street remains optimistic. The stock's SOIR of 0.53 indicates near-term options traders have been more bullishly aligned only 21% of the time during the past year, and Zacks reports that 9 out of 11 ranking analysts rate KO a "buy" or better. What's more, according to Thomson Financial, the average 12-month price target on the equity is $67.17 a level not seen since late 1999.

Should KO investors get spooked by a close below its 10-month trendline, an unwinding of this optimism may place added selling pressure on the shares.