Coca-Cola recently broke above the resistance level 42.00 which is the first of the two buy targets that were set in our earlier forecast for this company (42.00 and 43.00).
After a short upward thrust above 42.00, Coca-Cola corrected down to this price level – acting as support now after it was broken. The support area near 42.00 was strengthened by 38.2%Fibonacci Correction of the preceding upward impulse which broke the daily down channel in the middle of June. Coca-Cola is expected to rise to the next buy target at 43.00 (forecast price for the completion of the active impulse wave 3).
Coca-Cola recently broke above the resistance level 42.00 which is the first of the two buy targets that were set in our earlier forecast for this company (42.00 and 43.00).
After a short upward thrust above 42.00, Coca-Cola corrected down to this price level – acting as support now after it was broken. The support area near 42.00 was strengthened by 38.2%Fibonacci Correction of the preceding upward impulse which broke the daily down channel in the middle of June. Coca-Cola is expected to rise to the next buy target at 43.00 (forecast price for the completion of the active impulse wave 3).
The post HY MARKETS News: Stocks Report:Coca-Cola appeared first on | HY Markets Official blog.
Related Posts: