KO Forms Descending Triangle For Short-Horizon Yield
KO finished forming a descending triangle moving towards a critical support of 44.26 based on a previous low. RSI is in decline and DM- overtook DM+, all indicating stronger sell pressure.If 44.26 support broken likely to descend into the region of 41 - 38.
However, fundamentally KO is trading undervalue right now despite recent macro factors. Earnings up 44% boosts KO intrinsic value upwards of 55. Would definitely recommend buying KO at next local low for long-term hold.
Conservative take profit set at 41.
However, fundamentally KO is trading undervalue right now despite recent macro factors. Earnings up 44% boosts KO intrinsic value upwards of 55. Would definitely recommend buying KO at next local low for long-term hold.
Conservative take profit set at 41.
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