Coca-Cola Wave Analysis – 09 January, 2020

• Coca-Cola reversed from support area
• Likely to rise to 55.30

Coca-Cola recently reversed up from the support area lying between the key support levels 53.70, lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous sharp upward impulse wave (1).

The upward reversal from this support area started the active medium-term impulse wave (3).

Coca-Cola is likely to rise further toward the next resistance level 55.30 (high of the previous waves (1) from December and (B) from October).