Market Snapshots

Coca-Cola Wave Analysis – 26 March, 2020

Coca-Cola Wave Analysis – 26 March, 2020
  • 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).

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