Coca-Cola Breaks Higher After Earnings, But Wave 4 Pullback Risk Persists

Coca-Cola (KO) posted a robust breakout after its latest earnings release, extending the rally that began from the prior wave B consolidation phase.

The bullish move has lifted the stock above near-term resistance, confirming momentum from the report. However, the Elliott Wave count suggests the current upswing may be part of a larger wave 3, and once complete, a wave 4 correction could trigger a pullback.

Traders are monitoring key support levels for any signs of a reversal, though the immediate trend remains positive.