Coca Cola - A Clear Trading Setup!
Updated
Coca Cola (
KO) will provide a textbook setup soon:
Click chart above to see the detailed analysis👆🏻
Coca Cola is one of these "under the radar" stocks which is just trending higher and higher but nobody is really paying attention. However currently Coca Cola is retesting a resistance trendline of the governing rising channel pattern so a short term retracement is quite likely.
Levels to watch: $72, $65
Keep your long term vision,
Philip (BasicTrading)
KO) will provide a textbook setup soon:Click chart above to see the detailed analysis👆🏻
Coca Cola is one of these "under the radar" stocks which is just trending higher and higher but nobody is really paying attention. However currently Coca Cola is retesting a resistance trendline of the governing rising channel pattern so a short term retracement is quite likely.
Levels to watch: $72, $65
Keep your long term vision,
Philip (BasicTrading)
Trade active
Trading update on Coca Cola (KO):
Click chart above to see the detailed analysis👆🏻
Coca Cola is perfectly starting to reject the resistance level and after a little more bearish confirmation on the smaller timeframes, it is quite likely that Coca Cola will create a substantial move lower. Going short might actually be a good trading opportunity here.
Levels to watch: $65, $60
Keep your long term vision,
Philip (BasicTrading)
Trade active
Trading update on Coca Cola (KO):
Click chart above to see the detailed analysis👆🏻
So far this trade is playing out perfectly and Coca-Cola is rejecting the top of the channel pattern. Just be aware that the next support is still about 10% lower and because of the overall very slow movement of Coca-Cola stock, reaching this level could take some time.
Levels to watch: $65, $60
Keep your long term vision,
Philip (BasicTrading)
Trade active
Trading update on Coca Cola (KO):
Click chart above to see the detailed analysis👆🏻
Coca Cola is already half way to the support level and so far this analysis has been playing out perfectly. There is still more room towards the downside, although a significant move lower might not happen overnight. And then we wait for bullish confirmation at support.
Levels to watch: $65
Keep your long term vision,
Philip (BasicTrading)
Trade active
Trading update on Coca Cola (KO):
Click chart above to see the detailed analysis👆🏻
After dropping -500 pips this month, Coca Cola is perfectly following these previous analysis. Coca Cola is almost back to the resistance which is now turned support and it is quite likely that we will see a bullish reversal and the overall bullish trend continuation from there.
Levels to watch: $65
Keep your long term vision,
Philip (BasicTrading)
Trade active
Trading update on Coca Cola (KO):
Click chart above to see the detailed analysis👆🏻
Finally Coca Cola is approaching the support zone after dropping an incredible -1.000 pips since I first published this analysis. Don't try to catch a falling knife now though. We still have to patiently wait for bullish confirmation before we have to evaluate a new trading setup.
Levels to watch: $65
Keep your long term vision,
Philip (BasicTrading)
Trade closed: target reached
Trading update on Coca Cola (KO):
Click chart above to see the detailed analysis👆🏻
Coca Cola perfectly rejected the channel resistance three months ago and is now back to the previous all time highs. Only time - and especially bullish confirmation on the smaller timeframes - will tell, whether or not Coca Cola can manage to reverse right here. But it definitely seems quite possible.
Levels to watch: $64
Keep your long term vision,
Philip (BasicTrading)
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