Coca-Cola Wave Analysis 28 December, 2020

• Coca-Cola rising inside impulse wave (iii)

• Likely to rise to 54.00

Coca-Cola remains well bough after the price reversed up with the daily Hammer from the major support level 52.00 (former multi-month high from September, which has been reversing the price from November) – standing near the lower daily Bollinger Band.

The upward reversal from the support level 52.00 started the active short-term impulse wave (iii) – which belongs to waves 5 and (C).

Coca-Cola is expected to rise further toward the next resistance level 54.00 (top of the previous impulse waves (iii), 1 and (v)).