Details: Here’s the alternative count where we have a leading diagonal in wave 1. Looking for a completion of Minor wave 2, as we seem to be in wave {b} of 2 to then continue higher towards ATH.

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

KO Elliott Wave technical analysis

Function: Countertrend.

Mode: Corrective.

Structure: Flat.

Position: Wave {b} of 2.

Direction: Upside into wave {b} of 2.

Details: Looking to find support on top of 59$ to then pullback in wave {b}, we could face resistance on top of 60$ to then fall back into wave {c} and be headed towards the wave {ii} of the diagonal.

Welcome to our KO Elliott Wave Analysis Trading Lounge, your go-to destination for comprehensive insights into The Coca-Cola Company (KO) using Elliott Wave Technical Analysis. As of the Daily Chart on 14th February 24, we delve into significant trends shaping the market.

* KO Elliott Wave Technical Analysis – Daily Chart*

In terms of wave dynamics, we identify a prevailing impulse function with a motive structure. The current position is in Minor wave 2 of (1), indicating a completion of wave 2 before further upward movement. We explore an alternative count where a leading diagonal is present in wave 1. Our focus is on the completion of Minor wave 2, with the current wave appearing to be wave {b} of 2, followed by an anticipated continuation higher towards All-Time Highs (ATH).

* KO Elliott Wave Technical Analysis – 4Hr Chart*

Here, the wave function shifts to a counter trend approach with a corrective mode, reflecting a flat structure. The present position is in Wave {b} of 2, indicating an upside movement into wave {b} of 2. We anticipated finding support above $59, followed by a pullback in wave {b}. Potential resistance is expected around $60 before a subsequent fall back into wave {c}, ultimately heading towards wave {ii} of the diagonal.

Technical Analyst: Alessio Barretta.

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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