PepsiCo is forming a Triangle Pattern. The Next Target is the Top of the Triangle. If it doesn't Breakout above the Triangle Pattern (or) Resistance, the market is Expected to move downward again, anticipating a breakout at the bottom of the triangle. If there is a breakout at the bottom of the triangle, the market Expects a 27% fall. Because PepsiCo has been trading within two parallel lines, or a channel, since 2009. Therefore, if it breakout on the bottom side of the triangle pattern, the market could fall to at least the 0.3 Fibonacci Retracement level. Refer to this below image :
Support me; I want to Help People Make PROFIT all over the "World".
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.