Coca-cola after pulling back to 0.5 fib level ($50.16) and finding support there which lined up with 3/1 level now started going up and is slightly getting rejected at the 3/1 gannfan line 0.786 fib level ($51.02). The momentum is still strong but it will continue going up until $53.50 levels which is the top of the 2/1 gann channel and the 1.272 fib level that...
Coca Cola has broken out of resistance which is what we have been waiting for and was mentioned in this post.
The 50 simple moving average helped push price up and through the resistance level.
The next few days/weeks will be important because we have to see whether price can stay above the resistance level.
We sometimes see fake breakouts where price breaks...
Coca Cola is a household name and a company many investors may be interested in trading and it is potentially
on the verge of breaking out.
On the weekly chart we can see that price has bounced off the 50 simple moving average where it found support.
The sellers were unable to gain control and the buyers forced price to head even higher.
The 200 simple moving...