Coca-Cola: Approaching a Resistance Level

Coca-Cola has recently experienced a dynamic upward impulse, moving noticeably closer to our resistance level at $74.38. In the next step, price should surpass this mark, aiming to reach the red Short Target Zone between $77.63 and $82.89. In this range, we pinpoint the peak of the larger impulse wave III. Subsequently, the stock should move to the downside, which makes the red zone suitable for establishing short positions. Alternatively, an immediate reversal is also possible: If the stock falls directly below the support at $65.35, that could suggest the top of the beige wave alt.III has already been reached (probability: 30%).