Coca-Cola rises in negative zone - Analysis - 12-04-2019

Coca-Cola's stock rose 0.17% in the last session, with positive support from the 50-day SMA, with positive signals from the RSI, while settling below the pivotal resistance of 47.25, representing the ratio 38.2% of Fibonacci retracement levels for an ascending wave in the short term (from 41.45 to 50.84). 

Therefore we expect the stock to return lower, as long as the resistance of 47.25 holds on, targeting the support of 46.15, which represents the ratio 50% of the same retracement levels. 

Expected trend for today: Bearish