Coca-Cola climbs for second session - Analysis - 25-05-2016

Coca-Cola's stock closed higher in the intraday levels, recording a fresh profit of 0.91% in the last session, or 0.40 points, after the support of 0.91% held on, representing the ratio 50% of Fibonacci retracement levels for an ascending wave in the short term (from 40.75 to 47.13), with ongoing negative pressure from the SMA for the last 50 days period, coupled with an influx of positive signals from relative power indicators. 

Therefore we expect more gains to come for the stock, retesting the resistance of 44.69, which represents the ratio 38.2% of the same retracement levels.