KO Elliott Wave Analysis Trading Lounge Daily Chart, 6 March 24

Welcome to our KO Elliott Wave Analysis Trading Lounge, your go-to destination for in-depth insights into The Coca-Cola Company (KO) using Elliott Wave Technical Analysis. Let's delve into the market dynamics as of the Daily Chart on 6 March 24

The Coca-Cola Company, (KO) Daily Chart Analysis

KO Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Motive  

STRUCTURE: Impulsive

POSITION: Minor wave 2 of (3).  

DIRECTION: Completion of wave {c} of 2.    

DETAILS: Looking for support to be found on top of 60$, as we seem to have resumed from the 50$ low impulsively and we have yet to confirm th count, breaking previous wave (X) at Medium Level 65$.

KO Elliott Wave Technical Analysis – Daily Chart*

Our analysis reveals a trend function with a motive mode, characterized by an impulsive structure. Positioned in Minor wave 2 of (3), we anticipate the completion of wave {c} of 2. Our focus lies on finding support above $60, following the resumption from the $50 low in an impulsive manner. Confirmation of this count entails breaking the previous wave (X) at Medium Level $65.

KO Elliott Wave Analysis Trading Lounge 4Hr Chart, 6 March 24

The Coca-Cola Company, (KO) 4Hr Chart Analysis

Elliott Wave Technical Analysis for KO

FUNCTION: Counter Trend  

MODE: Corrective

STRUCTURE: Flat  

POSITION: Wave {c} of 2.  

DIRECTION: Completion of wave {c} of 2.  

DETAILS: Looking for a bottom in wave {c}, we have hit equality of {c} vs. {a} at 59.5$, looking to reach the demand zone at 58$ to then expect a turn higher.

KO Elliott Wave Technical Analysis – 4Hr Chart

Here, we identify a counter-trend function with a corrective mode, marked by a flat structure. Positioned in Wave {c} of 2, we anticipate the completion of Wave {c} of 2. Our attention is directed towards identifying a bottom in wave {c}, with equality observed between {c} and {a} at $59.5. We anticipate reaching the demand zone at $58, followed by an upward reversal.

Technical Analyst: Alessio Barretta

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