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Coca Cola – prognosis via Dow Theory

AgenaTrader

Weekly chart:

The big picture shows a very interesting situation. After the last high at $ 44.87, the price corrected steeply downwards and in doing so, even fell below the last point three at $ 36.83. The low following this was at $ 36.56. Directly after this, the price pulled up again, but it broke off the movement prematurely and has since then been in a slightly downwards-oriented sideways phase. Nevertheless, the tendencies in this still-young trend remain on the upper side.

Chart1

Daily chart:

In contrast to the big picture, here we see a downtrend. The last low is located at $ 41.29 and up to now, the correction has taken the price to the edge of the correction zone, which runs between $ 41.97 and $ 42.57. Today the price ricocheted off this level and was able to pick up its downtrend once more.

Chart2

Hourly chart:

The signals based on the DowHow Setup are hinting at a possible short trade here. The trend is facing downwards here too and is coming from out of the middle of its last correction zone. The chances that this trend will continue are very large. A possible stop should be located above the red correction zone.

Chart3

I hope you will remain favorably disposed towards me and always remember: the journey is the reward!

All the best

Markus Gabel

Head of Sales/Trading

AgenaTrader/TradeEscort

AgenaTrader Trading Software

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