PepsiCo, Inc.Long
$PEP Pepsi: RSI Suggests We Go to ATH
Pepsi has key earnings this week which should receive a nice tailwind from it's RSI setup. The 100 session RSI on large timeframes indicate the stock is highly oversold relative to usual times. Historically, such levels on the RSI produce a 15% rally in the following three months. furthermore we are trading at the bottom of a channel, giving me further confidence in a long to retest the highs of the channel.
yellow dotted lines: Key volume support
white dotted lines: Key technical support
blue lines: channel
yellow dotted lines: Key volume support
white dotted lines: Key technical support
blue lines: channel
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