The Coca-Cola Company (KO) Elliott Wave technical analysis [Video]

KO Elliott Wave Analysis Trading Lounge Daily Chart,

The Coca-Cola Company, (KO) Daily Chart.

KO Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave 3.

Direction: Upside in wave 3.

Details: Looking for a correction in wave {iv} to be near completion to the resume higher and complete higher degree wave 3, ideally at 80$.

The Coca-Cola Company, (KO) 1H Chart.

KO Elliott Wave technical analysis

Function: Counter Trend.

Mode: Corrective.

Structure:  Flat.

Position:  Wave (c) of {iv}.

Direction:  Bottom in wave (c).

Details:  Looking for a bottom in wave (c), as we have reached equality of (c) vs (a) as well as we have reached 38.2% retracement of the advance in wave {iii}.

In this Elliott Wave analysis, we will review the trend structure of The Coca-Cola Company (KO) using both the daily and 1-hour charts to assess the current wave position and potential price movements.

KO Elliott Wave technical analysis – Daily chart

On the daily chart, Coca-Cola (KO) is in wave 3 of a larger impulsive structure, and a correction in wave {iv} is expected to be near completion. Once this corrective phase ends, the stock should resume its upward trajectory, aiming for a target around 80 USD, which would likely complete the larger-degree wave 3.

KO Elliott Wave technical analysis – One-hour chart

On the 1-hour chart, the structure is currently undergoing a flat correction within wave (c) of {iv}. The wave (c) is nearing a potential bottom, as it has reached equality of wave (c) vs (a) and retraced to 38.2% of the previous advance in wave {iii}.

Technical analyst: Alessio Barretta.

KO Elliott Wave technical analysis [Video]