KO - 1D - 2.08.2020
KO - Favorite value stock post COVID. Multi time frame analysis. 1W - Solid bullish tendency. With a 15% average price correction every bullish trend. Tendence line is working as support. Even on smaller and actual time frames.
1D - Lateralizing on zone 43 - 50. Important resistance on 50 USD. Good volume indicating possible accumulation. Weekly trendline working as resistance too.
4H - Fibonacci at 0.382 looks quite strong as the first 4H support. Even though MACD showed selling signals, our last green candle stopped the fall at Fibonacci 0.236. Minimum corrections prices are getting slowly higher and creating an ascendence triangle.
1H - If we take a deeper look at Fibo 0.236, we can confirm that the price is slowly bouncing at that level. Just a little push left for MACD to validate the opening of a long position.
Conclusion: We need one more session with a good volume to confirm a long position and hold it until a target of 50 UDS. 47.40 USD will be our signal. KO its a solid long terms stock to hold. Also, dividends will improve as long demand its reactivated once overcome COVID impact.
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