Coca-Cola Company (KO) - Long Setup After One More Leg Down
We're identifying a potential long setup on Coca-Cola's weekly chart. The price is moving towards a key buy zone near the 0.618 - 0.786 Fibonacci retracement levels, a strong area of historical support.
This setup indicates a favorable risk-to-reward ratio for a bullish rebound.
Trade Details:
- Entry (Buy Zone): $59.88
- Stop-loss: $57.15
Targets:
- Target 1: $65.12 (0.382 retracement)
- Target 2: $78.82 (0.236 retracement)
Analysis:
The confluence of Fibonacci levels within the buy zone enhances the probability of a reversal. Monitor price action closely as it approaches this zone.
This is a swing trade setup with a medium to long-term timeframe.
This setup indicates a favorable risk-to-reward ratio for a bullish rebound.
Trade Details:
- Entry (Buy Zone): $59.88
- Stop-loss: $57.15
Targets:
- Target 1: $65.12 (0.382 retracement)
- Target 2: $78.82 (0.236 retracement)
Analysis:
The confluence of Fibonacci levels within the buy zone enhances the probability of a reversal. Monitor price action closely as it approaches this zone.
This is a swing trade setup with a medium to long-term timeframe.
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