It is sometimes crazy how simple actions by famous people influence a course.
Here it was two footballers.
But it is true that "bad publicity is still publicity".
From a chart perspective, I see Coca Cola in a battle with a support zone. In addition, we have a trend line that can give us support.
The wavereader gives us a 4h buy signal, which is definitely not...
The price it bounce back after hit the support zone, price looking forward to hitting resistance zone. So take a control risk to your account.
I am not take any responsibility if you use my strategies for trading.
You make yourself decision so control the risk that you can afford.
Coke Cola is a great long term stock. It has been increasing in value for decades, but of recent has been over stretched. Fortunately for us the world shat itself and KO's value has dropped. So when should you buy it?
There are 2 long term support/resistance areas $48.70 and $44.43 (ish). Let's see how price reacts to these levels and see if there is any buying...
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...
KO managed to close sustain above the 200 days average for the 3rd trading day.
We could potentially see prices rally and retests either of the 3 green targets, as long as prices able to sustain above this crucial average.
However, a close below the red support line will cancel out this uptrend analysis.