Good weekend everyone =)
Coca Cola had a huge gap down after the bad news on the "earnings" event, we can see on the huge red bar and huge volume , what is that? Panic sell
We can see now that the panic is now being absorbed since the volume is decreasing and the stock is trading near a support zone .
Overall the stock is still bullish as we can see on the weekly timeframe , we are now on the lower part of the big channel.
Now, i'd not buy right now, i'd like to wait some extra signs of strenght or at least no signs of further weakness.
A break above the 46 level can mean that the stock is getting read to go up again.
Natural targets are 50.0 and 51.5 levels (new ath ).
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
Coca Cola had a huge gap down after the bad news on the "earnings" event, we can see on the huge red bar and huge volume , what is that? Panic sell
We can see now that the panic is now being absorbed since the volume is decreasing and the stock is trading near a support zone .
Overall the stock is still bullish as we can see on the weekly timeframe , we are now on the lower part of the big channel.
Now, i'd not buy right now, i'd like to wait some extra signs of strenght or at least no signs of further weakness.
A break above the 46 level can mean that the stock is getting read to go up again.
Natural targets are 50.0 and 51.5 levels (new ath ).
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
Comment:
Despite the price action looks good i dont like the decreasing of volume on this up attempt.
Comment:
Price struggling at 45 zone now, good time to keep a close eye on price action =)
Comment:
Ok last daily candles are looking good on volume and behaviour, last red candle indicates lack of supply for this stock.
However the price action is struggling to break up the 46.20 resistance, we need it to break up to reach our targets =)
Overall im still bullish on this stock despite last weekly candle looked like a bull trap.
However the price action is struggling to break up the 46.20 resistance, we need it to break up to reach our targets =)
Overall im still bullish on this stock despite last weekly candle looked like a bull trap.
Comment:
Sup guys, quick update,
Price outlooks is still bullish , low volume on current sell off wave
Price outlooks is still bullish , low volume on current sell off wave