Equity index futures are pointing higher to start the week after markets held onto all-time highs last week, and now traders must assess the prospects of another heavy earnings week. One name that probably just about everyone knows will report in tomorrow’s premarket; Coca-Cola (KO).

The beverage giant was in the headlines last week as President Trump said on social media that Coca-Cola agreed to his request to use cane sugar in its products instead of high-fructose corn syrup. President Trump, well-known as a Diet Coke enthusiast, and members of his administration like Health and Human Services Secretary Robert F. Kennedy have often targeted the ubiquitous corn-based sweetening product in recent months, saying it is unhealthy. Coca-Cola does not seem to have confirmed this news. They released a short statement on Jul. 16 saying: “We appreciate President Trump’s enthusiasm for our iconic Coca Cola brand. More details on new innovative offerings within our Coca Cola product range will be shared soon.”

Analysts are looking for consensus EPS of $0.83 vs. $0.84 one year ago (-1.19%), and for revenue of $12.59B vs. $12.36B during the same period (+1.86%). Coke’s archrival, Pepsico (PEP), reported earnings last week as well, with shares soaring +7.4% after it posted adjusted EPS of $2.12 vs. estimates of $2.03 and gave upbeat guidance. Pepsi said the international business segment showed positive momentum, and that a weak U.S. dollar also helped foreign sales. But Pepsi may not be as useful of a comparison for Coke as it may first appear. Pepsi has a large portfolio of food product brands like Frito Lay and Quaker, whereas Coke focuses on beverages. The Option Market is pricing in about a +/- 3.3% move post earnings or about $2.30 up or down.

Examining Coke’s chart, price topped out at 74.38 on Apr. 22, and has since been in a downtrend while holding support near 69. These two factors together present a potential descending triangle-type shape, which is typically regarded as more bearish. This level near 69 represents a triple-bottom low as well as where the yearly Volume Profile shows trading activity starts to drop off significantly, so this could be an important area to watch. To the upside, price often has had trouble breaking above the 72 level in recent months. The yearly Volume Profile Point of Control also comes in just below around 71.50, so this another important hurdle for the bulls to clear.

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