Coca-Cola Wave Analysis – 11 June, 2020
June 11, 2020 @ 17:53 +03:00
• Coca-Cola falling inside impulse wave ③
• Likely to fall to 46,00
Coca-Cola recently reversed down sharply from the resistance zone located between the resistance level 49.60 (top of the previous wave (A)) and the upper daily Bollinger Band.
The downward reversal from this resistance zone created the combined daily Japanese candlesticks reversal pattern Evening Star – which started the active impulse wave ③.
Coca-Cola is likely to fall further toward the next support level 46,00 (low of the previous minor correction 4 from the end of May).