FX.co ★ Patterns #KO | The Coca-Cola Company Stock Price
The Triple Top pattern has formed on the chart of the #KO M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 48.68/48.69 with the upper limit 48.78/48.82; the projection of the width is 10 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 48.68, the price is most likely to continue the downward movement.
The Double Bottom pattern has been formed on #KO H1. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 49.08 is broken. The further movements will rely on the width of the current pattern 85 points.
According to the chart of M5, #KO formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 48.76, the lower border is 48.51. The signal means that a short position should be opened after fixing a price below the lower border 48.51 of the Bearish Rectangle.
The Bearish pennant pattern has formed on the #KO M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 48.51 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.
The Bullish pennant signal – Trading instrument #KO M15, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 49.12, with the prospect of the next move being a projection of the flagpole height.
Inverse Head and Shoulder
According to M30, #KO is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 48.90/48.81 is broken out, the instrument is likely to move toward 49.11.
On the chart of #KO M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 48.57; the lower boundary 48.45; the width of the pattern 12 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 48.30 level.
The Double Bottom pattern has been formed on #KO M15. Characteristics: the support level 48.23; the resistance level 48.46; the width of the pattern 23 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 22 points.
The Double Bottom pattern has been formed on #KO M5; the upper boundary is 48.46; the lower boundary is 48.24. The width of the pattern is 23 points. In case of a break of the upper boundary 48.46, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.
The Bearish pennant pattern has formed on the #KO M30 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 48.20, a trader will be able to successfully enter the sell position.