COCA-COLA CO: PRICE WILL STILL FALLING DOWN AFTER RANGE BREAK ??We observe in the chart a great correction of the upward trend of this asset just with the coinciding period of the covid during the month of March of this year, probably due to the global logistical problems derived from the situation.
Coca cola is always a safe bet since one of its shareholders is called Warren Buffett, here is the portfolio of W. Buffett in percentage:
List %
AAPL Apple Inc 25.78
BAC Bank of America 11.69
WFC Wells Fargo 10.51
KO Coca-Cola Company 8.35
KHC Kraft Heinz 8.11
AXP American Express Company 7.30
USB U.S. Bancorp 2.98
MCO Moody's Corporation 1.86
GS Goldman Sachs 1.86
JPM JPMorgan Chase & Co 1.82
No Microsoft !!!??? i dont believe that...hahaha
The price is boxed in a very narrow lateral range, it is as if you are waiting for some event to jump in one direction or another. In this scenario it is very difficult to determine what the price is going to do in the coming days, if it breaks the range downwards, things get complicated because there could be a 100% correction in AB = CD and see the price at historically low levels above 18.
If the price breaks the range by pushing up with strength and volume then he's likely to look for the historical top in a zig zag shape, if not and he do it in a V-shape then I very likely see a bearish bounce at that resistance level
