Technical analysis

Coca-Cola Wave Analysis 3 May, 2021

• 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).

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