COCA COLA - Long Entry

14 Eyl 2020

Hello dear Stock Traders

Another day and another DOW30 stock analysis, this time we will take a look at Coca Cola. KO
I had a hard time counting the elliot wave formations which showed up after the March Drop, Coca Cola had a very heavy correction.

Since the bottom we formed a 1-2-1-2 Pattern , a solid foundation for a healthy uptrend.
This 1-2-1-2 also traded a long time in a triangle, further the price suceeded in breaking out of it.

I am expecting a solid uptrend from here, however the risk in this trade shouldn't be forgotten also.

1# Long
Long at: 50.29$
Profit Targets: 65$, Longterm 70$-80$
Stop-Loss: 46.86$

14 Eyl 2020

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