Image Source: Pixabay
 

The Coca-Cola Company, Elliott Wave Technical Analysis

The Coca-Cola Company,  (NYSE: KO): 4H Chart 20 October 2023

KO Stock Market Analysis: We have been looking for the end of the correction in Primary wave 2 for a while as we seem to be extending lower into wave (C). We are now looking for another leg lower into wave 5 as we seem to be missing one wave to the downside.  

KO Elliott Wave Count: Wave {c} of 4.  

KO Technical Indicators: Above 20EMA and below 200EMA.

KO Trading Strategy: Invalidation stands at the end of wave 1, looking for downside into wave 5.  

Analyst: Alessio Barretta

The Coca-Cola Company, KO: 1-hour Chart, 20 October 2023

The Coca-Cola Company, Elliott Wave Technical Analysis
KO Stock Market Analysis: We seem to have a three wave move into wave {a} which makes the up move corrective in nature. Looking for the end of wave {c} soon as we seem to already have a potential five wave move.  

KO Elliott Wave count:  Wave {c} of 4.  

KO Technical Indicators: Above 20EMA and below 200EMA.

KO Trading Strategy: Looking for downside into wave 5.  ​​​​​

More By This Author:

Elliott Wave Technical Analysis 4 Hour Chart: Australian Dollar/U.S. Dollar - Friday, Oct. 20
Elliott Wave Technical Analysis: NEOUSD - Oct. 20
Elliott Wave Technical Analysis: Costco Wholesale Corp. - Thursday, Oct. 19