BUY/LONG ZONE (GREEN): $60.10 - $63.00 DO NOT TRADE/DNT ZONE (WHITE): $58.85 - $60.10 SELL/SHORT ZONE (RED): $56.65 - $58.85 Weekly: Bullish Daily: Bullish 4H: Bullish
Currently holding a long position in NYSE:KO, price just broke above my next bullish target so I decided to chart some new target and support levels.
I quickly labeled what I had previously looked at to enter my long position. Shown is the first bullish zone I looked at, a second zone that was broken to the upside, supported and broken structure, and most recently a range between 58.85 - 59.85, lasting from Dec 29th, 2023 - Feb 1st, 2024. Price had a strong break above this range and then shortly after fell back into the range zone, which became the new DNT area I have drawn. Today, there was strong bullish momentum that broke out of the zone around 60. Price targets to the upside are drawn up to 63.
This is what I would personally look at before entering trades, everything is subject to change on a daily basis and as I analyze different timeframes and ideas. ENTERTAINMENT PURPOSES ONLY, NOT FINANCIAL ADVICE!
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Price broke above the 60.70 target in the bullish zone, tested the bottom of the zone at level 61.35 and has rejected it. Price is currently trading in the DNT zone. After price broke over the 60.70 target the DNT zone may have been switched to a bearish zone for more aggressive trading. I have kept the targeted areas as they are shown, however; more aggressive traders may view the new areas as follows: Bullish Zone: $60.70 - $63.00 DNT Zone: $60.10 - $60.70 Bearish Zone: $56.65 - $60.10
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Price is currently reapproaching the bullish zone that is drawn on the chart starting at $60.10 for a second test after falling into the DNT zone. 1H price has strong bullish momentum heading into the bottom of the zone.