Coca-Cola: Is It the Right Time to Buy?The market dropped a lot, and now we have a possible reversal signal. The price reached SMA200, and we got a reversal candlestick pattern.
RSI is going to confirm the price reversal.
If the price can stay above the low of the signal candle, it is possible to search for buy signals using the daily and hourly charts.
Stop orders must be placed below 52.00 support and the local swing low. The main profit target should be 50% of the previous downward movement - it is 56.00 level. The 2nd profit target should be placed at 60.00 level.
If you think that the fundamental factors will push the markets downward, well, it can be like this as well. But when any market reaches a true bottom, nobody can be sure that it is the right time to buy.
Follow the signals from markets. Follow the markets. Use the proper risk and money management.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
