PEPSICO: Are you willing to take that risk on the 1W MA200?
PEPSICO took a strong fundamental blow yesterday, reaching remarkably oversold technical levels on the 1W timeframe (RSI = 19.097, MACD = -4.010, ADX = 44.557). On today's opening it hit the 1W MA200 for the first time since the March 2020 COVID crash. If it weren't for that crash, PEP would have never broken the long term Channel Up and today's candle would be exactly on its HL bottom.
Under the current circumstances it looks like a big risk but every time the stock crossed under the 1W MA200 and the 1W RSI got oversold (under 30.000), it was the buy opportunity of a Cycle. Those two bottoms instantly rebounded to the 0.786 Fibonacci level, so that sets a target for us at 187.00.
Are you willing to take that risk?
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Under the current circumstances it looks like a big risk but every time the stock crossed under the 1W MA200 and the 1W RSI got oversold (under 30.000), it was the buy opportunity of a Cycle. Those two bottoms instantly rebounded to the 0.786 Fibonacci level, so that sets a target for us at 187.00.
Are you willing to take that risk?
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial