KO making a corrective formation against the ascending trendline

Today we will speak about The Coca - Cola Company.

Main items we can see on the chart:

a) The price is making a corrective formation (yellow lines)

b) Currently that structure is supported on a previous resistance level + the bullish trendline

c) The next resistance zone we have is the previous ATH. That's why we are gonna use that level as a target

d) Our main view right now is: IF the price reaches the green horizontal line, we will take that as a confirmation for the bullish movement towards the next resistance level


Thanks for reading!