Last week, Coca-Cola Company shares showed good growth, with the share price up by more than 25%. This reverses a recent trend for the company as stocks fell 32.7% last month. The rise came after the shares were upgraded to a Buy rating along with a promising target price from HSBC's investment banker.
Coca-Cola, H4
Pivot: 45.00
Analysis:
Provided that the asset is traded above 42.30, follow the recommendations below:
The timeframe: H4
Recommendation: long position
Entry point: 45.00
Take Profit 1: 47.50
Take Profit 2: 51.00
Alternative scenario:
In case of breakdown of the level 42.30, follow the recommendations below:
The timeframe: H4
Recommendation: short position
Entry point: 42.30
Take Profit 1: 38.50
Take Profit 2: 36.00
Comment:
Coca-Cola shares have left the mid-term downtrend channel, forming a reversal graphical pattern "Inverse Head & Shoulders" on the H4 chart, which signals the trend change and the transition to an upward trend.
Key levels:
Resistance
Support
53.50
42.30
51.00
38.50
47.50
36.00
Coca-Cola, D1
Pivot: 42.00
Analysis:
While the asset is traded above 41.00, follow the recommendations below:
Time frame: D1
Recommendation: long position
Entry point: 41.00
Take Profit 1: 49.90
Take Profit 2: 60.00
Alternative scenario:
If the level 41.00 is broken-down, follow the recommendations below.
Time frame: D1
Recommendation: short position
Entry point: 41.00
Take Profit 1: 36.00
Take Profit 2: 32.20
Comment:
RSI shows the possibility of developing a long upward trend. The price has bounced from the support level - 36.00, thus forming a graphical pattern of trend reversal "Inverse Head & Shoulders " on the D1 chart, which may indicate a long-term growth.
Key levels:
Resistance
Support
65.00
41.00
60.00
36.00
49.90
32.20
We also advise you to pay attention to Amazon for intra-day trading:
Pivot: 1961.50
Analysis:
While the asset is traded above 1870.50, follow the recommendations below:
Time frame: H4
Recommendation: long position
Entry point: 1961.50
Take Profit 1: 1975.00
Take Profit 2: 2032.50
Alternative scenario:
If the level 1870.50 is broken-down, follow the recommendations below.
Time frame: H4
Recommendation: short position
Entry point: 1870.50
Take Profit 1: 1810.50
Take Profit 2: 1740.00
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