Technical analysis

Coca-Cola Wave Analysis 8 April, 2021

Coca-Cola Wave Analysis 8 April, 2021

• Coca-Cola reversed from support level 52.40

• Likely to reach resistance level 53.7

Coca-Cola recently reversed up from the support level 52.40 (former strong resistance from March), standing near the 38.2% Fibonacci correction of the upward impulse 1.

The upward reversal from the support level 52.40 started the active minor impulse wave 3 of the impulse wave  (3) from March.

Coca-Cola is likely to rise further in the active impulse wave 3 toward the next resistance level 53.71 (top of the previous impulse wave 1).

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