Coca-Cola has gained around 9% over the past two weeks and should now be approaching the high of the turquoise wave 4. As soon as this top is established (below the resistance at $70.74), we expect sell-offs down to the forecast low of wave (A) in magenta below the support at $60.62. However, if the stock breaks above the resistances at $70.74 and $73.53 during its current upward move, we will consider wave alt.(A) in magenta as complete. In this scenario, the subsequent wave alt.(B) would already be underway, aiming for a high within our beige Target Zone between $75.32 and $80.36 (probability: 39%).
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.