KO Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave 2 of (1).
Direction: Upside in wave 3.
Details: We have been monitoring KO for a while now, but the count seems to be evolving continuously. At this point we are still looking for further upside into wave 3, not before we’ll complete the correction in wave 2.
KO Elliott Wave technical analysis – Daily chart
Our analysis indicates a trending function characterized by impulsive mode and motive structure, positioned in Wave 2 of (1). The direction points to upside momentum in wave 3. Despite continuous evolution in the count, we remain focused on anticipating further upside into wave 3, awaiting the completion of the correction in wave 2.
KO Elliott Wave technical analysis
Function: Counter Trend.
Mode: Corrective.
Structure: Flat.
Position: Minute wave {b}.
Direction: Looking for upside in wave {b}.
Details: At this point we are considering a triangle in wave {b} to then continue lower into wave {c} towards 58$ where wave {ii} of the diagonal stands, which is a very common target for a wave 2 after a diagonal in wave 1.
KO Elliott Wave technical analysis – Four-hour chart
Here, we identify a counter trend function marked by corrective mode and flat structure, positioned in Minute wave {b}. The direction suggests potential upside movement in wave {b}. We are currently considering the formation of a triangle in wave {b}, anticipating a subsequent move lower into wave {c} towards $58, coinciding with the location of wave {ii} of the diagonal. This target aligns with common patterns observed after a diagonal in wave 1.
The Coca-Cola Company (KO) Elliott Wave technical forecast [Video]
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended content
Editors’ Picks
AUD/USD dips below 0.6600 following RBA’s decision
The Australian Dollar registered losses of around 0.42% against the US Dollar on Tuesday, following the RBA's monetary policy decision to keep rates unchanged. However, it was perceived as a dovish decision. As Wednesday's Asian session began, the AUD/USD trades near 0.6591.
EUR/USD edges lower to near 1.0750 after hawkish remarks from a Fed official
EUR/USD extends its losses for the second successive session, trading around 1.0750 during the Asian session on Wednesday. The US Dollar gains ground due to the expectations of the Federal Reserve’s prolonging higher interest rates.
Gold wanes as US Dollar soars, unfazed by lower US yields
Gold price slipped during the North American session, dropping around 0.4% amid a strong US Dollar and falling US Treasury bond yields. A scarce economic docket in the United States would keep investors focused on Federal Reserve officials during the week after last Friday’s US employment report.
FTX files consensus-based plan of reorganization, awaits bankruptcy court approval
FTX has filed a consensus-based plan for its reorganization, coming almost two years after the now defunct FTX filed for Chapter 11 Bankruptcy Protection in the District of Delaware.
Living vicariously through rate cut expectations
U.S. stock indexes made gains on Tuesday as concerns about an overheating U.S. economy ease, particularly with incoming economic reports showing data surprises at their most negative levels since February of last year.