• Coca-Cola reversed from support level 53.20
• Likely to rise to resistance level 54.70
Coca-Cola recently reversed up from the pivotal support level 53.20 (former resistance from the stat of April) – strengthened by the lower daily Bollinger Band and by the 38.2% Fibonacci correction of upward impulse form March.
The upward reversal from the support level 53.20 started the active short-term impulse wave (iii).
Coca-Cola is likely to rise further toward the next resistance level 54.70 (top of the previous impulse wave (i) from last month).
