We have 2 scenarios for KO stock.
If the horizontal support holds, we expect the price to bounce hard and reach the target for longs shown on the chart. The price may also go a bit higher and retest the downsloping resistance of the descending triangle which would be a final target for longs now.
If the horizontal support fails , we may see lower prices.
We have several targets for shorts but the final target would be around 50 $.
If you want to short, wait for a breakdown with the volume surge in order to avoid the false breakout.
If you want to long, buy at the upsloping support. Entry , target and stop loss are shown on the chart
Good luck
If the horizontal support holds, we expect the price to bounce hard and reach the target for longs shown on the chart. The price may also go a bit higher and retest the downsloping resistance of the descending triangle which would be a final target for longs now.
If the horizontal support fails , we may see lower prices.
We have several targets for shorts but the final target would be around 50 $.
If you want to short, wait for a breakdown with the volume surge in order to avoid the false breakout.
If you want to long, buy at the upsloping support. Entry , target and stop loss are shown on the chart
Good luck
Trade closed: target reached:
target for longs reached
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