The Coca-Cola Company (KO) Stocks Elliott Wave Technical Analysis

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KO Elliott Wave Analysis Trading Lounge Daily Chart,

The Coca-Cola Company, (KO) Daily Chart

KO Elliott Wave Technical Analysis

 

FUNCTION: Counter Trend

MODE: Corrective

STRUCTURE: Flat

POSITION: Minute wave {c} of 2.  

DIRECTION: Bottom in wave {c}.

DETAILS: With yesterday’s session we’ve had a spike in volume on the bull side, which could make us start thinking the correction is either completed, or soon to be. We have almost reached 1.618 {c} vs. {a}., but more importantly we have reached the base of the leading diagonal in wave 1, where many times support is found.  

 

 

 

KO Elliott Wave Analysis Trading Lounge 4Hr Chart,

The Coca-Cola Company, (KO) 4Hr Chart

KO Elliott Wave Technical Analysis

 

FUNCTION: Counter Trend

MODE: Corrective

STRUCTURE: Flat

POSITION: Wave (v) of {c}.

DIRECTION: Bottom in wave (v).

DETAILS: Here on the intraday chart it’s easier to see the five wave move in wave {c} which seems to have unfolded nicely. Looking for a clear sign of a bottom in place. 

 

 

 

As of April 18, 2024, Elliott Wave analysts closely monitor the daily and 4-hour charts of The Coca-Cola Company (Ticker: KO) to provide insightful technical forecasts. These Elliott Wave predictions play a crucial role in identifying potential trends and reversal points in the stock's price movement.

 

 

* KO Elliott Wave Technical Analysis – Daily Chart*

The Elliott Wave analysis on the daily chart of Coca-Cola shows a corrective phase within a flat structure, identified as minute wave {c} of 2. This phase is categorized under a counter trend function, suggesting that the ongoing correction is approaching completion. The recent trading session marked a significant increase in volume on the bullish side, hinting at a nearing end to the correction. Technically, the price has approached the critical 1.618 Fibonacci extension of wave {c} relative to {a}, reaching a key support level at the base of the leading diagonal from wave 1—a typical zone for finding support.

 

* KO Elliott Wave Technical Analysis – 4hr Chart*

On the 4-hour chart, Coca-Cola’s stock exhibits a detailed structure of the corrective phase, clearly depicting wave (v) of {c}. This finer resolution allows for a clearer visualization of the complete five-wave move within wave {c}, indicating the likelihood of a bottom formation. Analysts are keenly observing for definitive signs that confirm the bottom is firmly in place, signaling potential bullish reversals.

 

Technical Analyst : Alessio Barretta

 

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