Coca-Cola Wave Analysis – 26 March, 2020
March 26, 2020 @ 17:52 +03:00
- Coca-Cola reversed from major support zone
- Likely to rise to 48.00
Coca-Cola recently reversed up sharply from the major support zone lying between the long-term support level 36.50 (yearly low from 2015) and the lower daily Bollinger Band.
The price then broke above the next resistance level 41.30 (former yearly low from 2018) – which accelerated the active upward correction.
Coca-Cola is likely to rise further toward the next resistance level 48.00 (50% Fibonacci retracement level of the previous sharp downward impulse from the end of February).