Inflexion point for KO! Bullish?
@Asphen：
Price action (20 Jan 2024) - Since the low of Oct 2023 due to the weight loss drug news, KO has been steadily recovering - Past 2 weeks had now broken out above MA50 (blue) and stayed above with the back-test! - RSI had also ticked upwards above 50 on the weekly chart - It had also climbed above the key resistance/now support level of 58+/59+ to the upper half of the trading range Bullish - A good bullish mid-long term reference for counters is often on the 50/50 rule on a weekly chart - On a weekly chart, if the price action gets above MA50 on a weekly chart and coupled with a RSI of above 50, it tends to point to a bullish reversal change of trend Bearish - This could still happen if the price action gets below 60 and stay above, meaning below MA50. My plays - Had been nibbling shares since the low of Oct - Had now also sold puts strike 57 - Will be accumulating more puts if price action continues to stay above MA50 Good luck, all! KO weekly chart - 20 Jan 2024 @Deposit @melson @CaptainTiger @TigerStars @LMSunshine @macroB $Coca-Cola(KO)$
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