ZuluTrade Blog

Superstar influencers move the markets

Market View | Thursday, June 24, 2021 3:29 PM GMT

Lately, we have witnessed this numerous times, Elon Musk with Bitcoin, Jordan Belfort with GameStop and now Cristiano Ronaldo with Coca Cola.
Public figures seem to gain authority on the market by just being themselves and expressing their opinion about specific products and services.

This has been a phenomenon that has impacted the markets and made them far more volatile, enabling a lot of investors to profit from these moves but also inflicted losses to accounts that were caught on the wrong side of the trade.

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The latest case is Cristiano Ronaldo’s choice to remove with a dismissive way two bottles of Coca-Cola from the press conference table he sat in the EURO 2020.


This of course shocked the world as the way this superstar interacted with the major sponsor of a WorldWide sports championship, causing the Coca-Cola stock (KO US: NYSE) to drop 1.5 per cent in one day and 3 per cent in the next two. This is more than 4 billion dollars in market capitalisation losses for the company!!

On the technical aspect, things are also looking a bit blurry for the stock.

KO has been testing a major multi-year trendline in the weekly chart.
MACD is also showing a bearish diversification on the two recent peaks of the stock.
This, of course, should raise a possible alert to people who are already invested.

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On the other hand (in a more short term look), KO seems to have found major support at 53.70.

The 200 EMA is also waiting to support the prices should they fall lower.
Should this remain unbroken then bulls are still under control and will be in an even stronger position if this short-term trendline is being violated and retested on the upside.

The price will fluctuate heavily on these levels so the highest amount of attention and focus is being required by the investor.

Whichever is going to be the result, one is certain.
Markets have changed and are changing.
And today more than ever they are being influenced by social media superstars, so tune in to your F
acebookInstagramTwitter and start scanning for the next big hit!

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The views expressed do not constitute investment or any other advice/recommendation/
suggestion and are subject to change. Reliance upon information in this material is at the sole discretion of the reader. Opinions expressed in the report do not represent the opinion of ZuluTrade Social Trading Platform and do not constitute an offer or invitation to anyone to invest or trade. Every metric and the statistical number is a result of a past performance, which does not constitute a promise or a certainty for a future one.

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