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]

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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