Technical analysis

Coca-Cola Wave Analysis – 13 May, 2024

• Coca-Cola rising inside sharp impulse wave (3)

• Likely to reach resistance level 64.00

Coca-Cola rising inside the sharp upward impulse wave (3), which started earlier from the key support level 61.00 (former strong resistance from February ad March).

The price has been reversing up from the lower trendline of the sharp upward channel from April – highlighting the strength of the active impulse wave (3).

Give the clear multi-moth uptrend, Coca-Cola can be expected to rise further toward the next resistance level 64.00.

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