|

Coca-Cola Co (NYSE: KO) weekly bullish sequence

Coca-Cola Co (NYSE: KO) started a new bullish cycle on October 2023. As discussed in our previous article, the stock rallied from our blue box area after ending a corrective double three structure. The impulsive rally suggested the start of wave III to the upside and this year KO managed to break above 2022 into new all time highs.

KO daily chart 12.2.2023

Chart

The stock is currently showing 3 swings up from 2020 low and consequence it’s considered as an incomplete bullish sequence looking to do a 5 waves advance. It’s currently trading within wave ((3)) of III and it will be looking to end rally from 2023 before starting 3 waves pullback in wave IV.

KO still has a weekly target to the upside at equal legs area $82.5 – $89.8. Buyers will continue to buy the stock during pullbacks in 3, 7 or 11 swings until it reaches the target or the cycle from 2020 ends.

KO weekly chart 9.19.2024

Chart

Author

Elliott Wave Forecast Team

Elliott Wave Forecast Team

ElliottWave-Forecast.com

More from Elliott Wave Forecast Team
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

EUR/USD ticks lower following the release of FOMC Minutes

The US Dollar found some near-term demand following the release of the FOMC meeting minutes, with the EUR/USD pair currently piercing the 1.1750 threshold. The document showed officials are still willing to trim interest rates. Meanwhile, thinned holiday trading keeps major pairs confined to familiar levels.

GBP/USD remains sub- 1.3500, remains in the red

The GBP/USD lost traction early in the American session, maintaining the sour tone and trading around 1.3460 following the release of the FOMC meeting minutes. Trading conditions remain thin ahead of the New Year holiday, limiting the pair's volatility.

Gold stable above $4,350 as the year comes to an end

Gold price got to recover some modest ground on Tuesday, holding on to intraday gains and changing hands at $4,360 a troy ounce in the American afternoon. The bright metal showed no reaction to the release of the FOMC December meeting minutes.

Ethereum: ETH holds above $2,900 despite rising selling activity

Ethereum (ETH) held the $2,900 level despite seeing increased selling pressure over the past week. The Exchange Netflow metric showed deposits outweighed withdrawals by about 400K ETH. The high value suggests rising selling activity amid the holiday season.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is.  Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).