This is KO's weekly chart. The current bar is still open and it's only Tuesday. 3 more days to go tp see if it will end up being a shooting star pattern on a trend line retest.
The MACD histogram is showing weakness as well with a potential cycle peak.
Also, we had a lower low today vs yesterday. Forecasting a retrace back to $52 area in the next couple of days before heading down.
Target profit 1 is $48.50
Target profit 2 is $44.50
If price goes above $52.50 in the next few days, then this setup is invalidated.
Disclaimer: I'm not giving any trading and investing advice. Just sharing my chart observations.
If you have any symbols that you'd like met o analyze, feel free to drop me a comment.
Thanks!
The MACD histogram is showing weakness as well with a potential cycle peak.
Also, we had a lower low today vs yesterday. Forecasting a retrace back to $52 area in the next couple of days before heading down.
Target profit 1 is $48.50
Target profit 2 is $44.50
If price goes above $52.50 in the next few days, then this setup is invalidated.
Disclaimer: I'm not giving any trading and investing advice. Just sharing my chart observations.
If you have any symbols that you'd like met o analyze, feel free to drop me a comment.
Thanks!
Note
Gapped down today.Note
If price doesn't head down tomorrow, then chances are this setup is invalidatedNote
Would like to see it dropped to below $50.20 today. Nonetheless, setup still validNote
With the surge up today, setup looks to be invalidated.We will end it if and when price goes above $50.62
Trade closed manually
Setup invalidated
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.
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.