Coca-Cola surrounded with negative signals - Analysis - 21-03-2019

Coca-Cola's stock fell 0.07% in the last session, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI, readying to pierce the support of 45.04, representing the ratio 61.8% of Fibonacci retracement levels for an ascending wave in the short term (from 41.45 to 50.84). 

Therefore we expect more losses for the stock, especially if the support of 45.04 was breached, targeting the next support at 43.67, which represents the ratio 78.6% of the same retracement levels. 

Expected trend for today: Bearish