Elliott Wave Technical Analysis - PepsiCo Inc.

By Peter Mathers of Trading Lounge

Elliott Wave Analyst - tradinglounge • Sep 2, 2022 at 4:07 AM EDT

Trading strategy: waiting for confirmation of uptrend resumption, knowing that we could get more downside into wave {c} as the correction most likely isn’t over.

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PepsiCo Inc.,(Nasdaq: PEP): Daily Chart, September 2, 2022,
PEP Stock Market Analysis: It has been moving as expected since the last forecast. At this point, we should expect a pullback into wave {b}, unless wave 2 is already finished.

PEP Elliott Wave count: c) of {a}.
PEP Trading Strategy: Waiting for confirmation of uptrend resumption, knowing that we could get more downside into wave {c} as the correction most likely isn’t over.

PEP Technical Indicators: We are still above the 200 EMA which is a sign we are still in an uptrend on the higher degree.

Analyst: Alessio Barretta

PepsiCo Inc., PEP: 4-hour Chart, September 2, 2022

PepsiCo Inc., Elliott Wave Technical Analysis
PEP Stock Market Analysis: Looking for an upside move to come soon, as wave c) seems to be finished.

PEP Elliott Wave count: (a) of {b}.
PEP Technical Indicators: We found the support for the 200 EMA and reacted well to it.

PEP Trading Strategy: Looking for the upside, in the short term we could look for longs after we get a break of the last lower high and a successful pullback from it.

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