PepsiCo: Strong Reaction
The Pepsi stock recently showed a strong reaction to the support at $141.52, reinforcing the significance of this level. However, we primarily anticipate that this level will be breached next. During the ongoing magenta wave (5), the price should drop into our beige Target Zone (coordinates: $131.12 – $124.50), which presents potential long-entry opportunities. We primarily expect the beige wave a to conclude within this Zone. But if the stock instead breaks above the resistance at $165.13 (probability: 31%), this will confirm that the low of the beige wave alt.a was settled prematurely.
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Related publications
Disclaimer
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.