Technical analysis

Coca-Cola Wave Analysis – 29 October, 2021

Coca-Cola Wave Analysis – 29 October, 2021

• Coca-Cola broke daily down channel

• Likely to rise to resistance level 56.85                                                                  

Coca-Cola continues to rise inside the minor impulse wave 3 which previously broke the wide daily down channel from July.

The active impulse wave 3 belongs to the higher level impulse wave (3) – which started at the bottom of the aforementioned down channel.

Given the clear daily uptrend , Coca-Cola can be expected to rise further toward the next resistance level 56.85 (target price for the completion of the impulse wave 3, top of wave B from September).

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