This looks like it could be a gigantic cup and handle forming for Coca Cola. The top from 1998 ($44) was recently hit again forming the cup. Right now some consolidation is happening and forming the handle. The handle looks kind of sloppy to my, but regardless, if this breaks up above and has high volume $45 I see a %50 - %100 rise playing out .
Coca-Cola trades in macro range - on 5 and 10 year basis.
Price is now currently trading between 2 key levels. The lower level is 5-year (260 weeks) mean. The higher level is upper 1st standard deviation from 10-year (520 weeks) mean.
Price trading within 1 standard deviation is not trending, thus the range outlined above is lateral.
On short term basis,...
#KO #COCACOLA Long Idea Butterfly Pattern
Do you own analysis but I hope this give you some useful ideas, don't forget to hit the like button :) Thanks
I like how Coca-Cola consolidates near highs after it broke up range resistance at $41.20 and previous high $41.40. After move up to $42.50, it is flagging near highs with support at $41.80ish.
If it will go through $42.40-.50, then we can see another leg higher. Earnings next week on Tuesday befor market opens could be strong catalyst.
1 to 2 risk/reward...
