Coca Cola is a clear leader among soft drinks companies both in terms of its brand recognition and the reliability of its dividend growth. The share currently yields 2.55% and broke successfully above $70 in March. It had become somewhat overbought by mid-May and appears to be in a process of mean reversion. A sustained move below $67 would be required begin to question medium-term scope for additional upside.

Monster Beverage Corp surged earlier this month on speculation Coca Cola was in talks to take the company over. This rumour was later rebutted and the price finished flat on the day. Although the share has posted an unbroken progression of higher reaction lows since May 2010 it is became increasingly overextended relative to the 200-day MA and remains susceptible to some additional mean reversion.

PepsiCo (3.17%) continues to rally away from the $65 area and a sustained move below $62 would be required check medium-term scope for additional higher to lateral ranging.

Dr Pepper Snapple Group (3.16%) has been ranging mostly below $40 since mid-2010 but has held a progression of higher reaction lows since November 2011 and a sustained move below $38 would be required to check potential for additional upside.

Starbucks (1.25%) has at least partially unwound an overbought condition relative to the 200-day MA and while a period of consolidation appears likely, a sustained move below $50 would be required to question medium-term upside potential.

Dean Foods trended lower between 2007 and late 2010. However, it bottomed 18-month ago and hit a new two-year high last week. A sustained move below $13 would be required to question medium-term scope for additional upside.

Peet's Coffee & Tea posted the largest reaction within the course of the nearly 3-year uptrend four weeks ago and needs to find support in the current area if the medium-term upside is to continue to be given the benefit of the doubt.

National Beverage Corp is a clear laggard in the sector. It broke its more than three-year progression of higher reaction lows in March, dropped below the MA and has subsequently encountered resistance below it. A sustained move above $16 will be required begin to question potential for additional downside.