So KO is showing weakness today, and it seems highly likely that we get a drop to 52.50 before bullish price action resumes. This is very short term, and we should see this play out in the next couple days or week or two at the most maybe. After this weakness in price action, we could possible see a strong move higher follow.
Trade active
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Be patient here for the 52.50 level. A quick drip coming soon...maybe early next week now...
Im down 7k on my KO 53 calls ... messed up BIG time. Do you think I have a chance to get out by December 6th?
thecharttraders
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@RohanTalkad, I'm overall bullish on KO, however, the chart is telling me that at this time price action will likely not move higher until 52.50 is achieved. So that makes me bearish in the short term, however, over the next month or two higher levels are ahead...to your question...it depends on how soon that 52.50 level is hit. If that level hits this week, then we could see a hard bounce to higher levels towards 54 or 55 or higher next week or thereafter...