As you can see PEP broke down from long trend line, back tested it twice and failed. Now in process of another leg down from the Bear Flag..... It should play out in the next 10-15 Trading days. Break bellow $108 will confirm it.
On the hourly chart of the instrument, with high probability, the price is starting the fifth Elliott wave of a bearish period. Also, a sell fractal was formed below the MA`s of Alligator indicator. Going short if we break its level. SL and TS levels are marked on the chart.
Pepsico is looking to go higher, but I'm wondering for how long? The answer is: within a week this stock should start to move... down.
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I don't really know what this will do long term but I feel like this is bouncing off the ultimate support. I'm thinking this will bounce enough to play long before it either rolls over and breaks support, or just channels for a bit.
The price is over the 30MM. The risk/reward is 0.36, and a think the price will bounce (2.81% vs. 7.81%) and break de the resistant. The slope of 30MM is positive. I think it is in phase 2.
This uptrend says "Buy ME! Hurry up and Buy ME!"
The strong uptrend can make you money, the dividend will be your small surprises every Q. so why not to buy it? If you want to read the fundamental analysis check the SeekingAlpha PeP profile, or Google it to know more. I'm sure the company could hit new highs in the 2019 after acquired SodaStream.
What's...
PepsiCo has broken it's upward incline/trend line support. Over the last six weeks we have seen a short term top being built with the price currently re-testing the breakdown level. Currently at $112.05, traders should be looking at $107 as a target, using a stop-loss of $114.00.
As you can see from the chart the price has respected the trend lines on the weekly chart ( the blue and purple arrows ) the price temporarily broke out the trend line, and then broke back into it and bounced of the bottom trend line, so we are going long.
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CEO is stepping down, buying the dip at support on panic sell with low volume. Thinking she we'll pop again for a small bullish run before running into resistance again.
PEP looks to be buy-able at this level. Strong support around 113.20 along with the daily 20 ema. Expecting the stock to continue higher from this point. Will exit Calls at previous resistance 116.87.
![PEP: [PEP] phase 2](https://s3.tradingview.com/o/OFlAKJRC_mid.png "[PEP] phase 2")
