Short swing KO- Short on weekly and monthly candlesticks
Hello Traders,
Today it's Coca-Cola's turn
On a weekly candlestick we see that the price is breaking the 89-period average for the second week.
Additionally and more importantly, the volume indicator indicates that the short volume action is dominant over the long volume on both the faster and slower indicators.
As always with fibonacci retracements we mark the support and resistance zones, in this case, we mark the support zones generated by the major bullish segment. The 38.2% fibo is at $49-$50 aprox.
Finally, in monthly candles if the reader is encouraged, you can check with the indicator that this month the short volume has crossed bullish over the long volume.
Make it simple and mechanical.
Have a good day
Today it's Coca-Cola's turn
On a weekly candlestick we see that the price is breaking the 89-period average for the second week.
Additionally and more importantly, the volume indicator indicates that the short volume action is dominant over the long volume on both the faster and slower indicators.
As always with fibonacci retracements we mark the support and resistance zones, in this case, we mark the support zones generated by the major bullish segment. The 38.2% fibo is at $49-$50 aprox.
Finally, in monthly candles if the reader is encouraged, you can check with the indicator that this month the short volume has crossed bullish over the long volume.
Make it simple and mechanical.
Have a good day