KO Elliott Wave Analysis Trading Lounge Daily Chart,
The Coca-Cola Company, (KO) Daily Chart.
KO Elliott Wave technical analysis
Function: Counter Trend.
Mode: Corrective.
Structure: Flat.
Position: Wave (iv).
Direction: Bottom in wave (iv).
Details: We are looking at a potential wave (iv) bottom, as it currently stands at 0.618 (iv) vs. (ii), and it seems to have found support on top of 68$ repetitively.
KO Elliott Wave Analysis Trading Lounge 1H Chart,
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 (iv).
Details: Looking for a bottom in wave (iv), as we seem to identify a three wave move within the corrective wave. We also see volume increasing during the final hours of yesterday’s session, suggesting a bottom could be imminent.
Welcome to our latest Elliott Wave analysis for The Coca-Cola Company (KO) as of August 13, 2024. This analysis provides an in-depth look at KO's price movements using the Elliott Wave Theory, helping traders identify potential opportunities based on current trends and market structure. We will cover insights from both the daily and 1-hour charts to offer a comprehensive perspective on KO's market behavior.
KO Elliott Wave technical analysis – Daily chart
The analysis suggests that wave (iv) may have found a bottom, as it currently aligns with the 0.618 Fibonacci retracement level relative to wave (ii). The price has shown repeated support around the $68 level, indicating that this area could be a strong support zone. If this bottom holds, we could see a resumption of the uptrend as wave (v) begins to unfold.
KO Elliott Wave technical analysis – One-hour chart
The 1-hour chart reveals a potential bottom in wave (iv), supported by the formation of a clear three-wave move within the corrective phase. Additionally, there was a noticeable increase in volume during the final hours of yesterday’s session, which often signals that a reversal or a bottom could be imminent. If the bottom is confirmed, this would pave the way for the next impulsive move in wave (v).
Technical analyst: Alessio Barretta.
KO Elliott Wave technical analysis [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
EUR/USD extends gains above 1.0800 as mood improves
EUR/USD preserves its recovery momentum and trades in positive territory above 1.0800 on Monday. In the absence of high-tier data releases, the improving risk mood makes it difficult for the US Dollar to find demand and helps the pair edge higher.
GBP/USD rises toward 1.3000 on renewed USD weakness
GBP/USD holds its ground and advances to the 1.3000 area in the second half of the day on Monday. Following the previous week's rally, the US Dollar struggles to find demand as the risk mood improves on Monday, allowing the pair to stretch higher.
Gold stays in a consolidation phase below $2,750
Gold is having a hard time building on Friday's gains and trades in a narrow band below $2,750 on Monday. Nevertheless, safe-haven demand stemming from Middle East tensions and US election jitters help XAU/USD limit its losses.
Metaplanet stock jumps after announcing $10.5 million Bitcoin purchase
Japanese investment firm Metaplanet Inc. said on Monday that it had expanded its Bitcoin holdings by around 156 BTC, worth around $10.5 million. With the latest purchase, the Tokyo-listed firm has more than doubled its Bitcoin holdings in Q3, holding 1,018 BTC valued at around $69 million.
US elections: The race to the White House tightens
Trump closes in on Harris’s lead in the polls. Neck and neck race spurs market jitters. Outcome still hinges on battleground states.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.