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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.  
 
Stocks24.thumb.png.1434ee5b513b05dcebc62e9650ad68b8.png
 
 
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. 
Stocks24(1).thumb.png.d343b49b4301e41c0dbed36fe98a1d76.png
 
 
 

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
 
Source : Tradinglounge.com get trial here!
 
 
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