Elliott Wave Technical Analysis: PepsiCo Inc.

By Peter Mathers of Trading Lounge

Elliott Wave Analyst - tradinglounge • Oct 12, 2022 at 6:45 AM EDT

Trading strategy: we can take short-term shorts, and wait for the large move-up we are anticipating.

Pepsico Inc., Elliott Wave Technical Analysis

Pepsico Inc., (Nasdaq: PEP): Daily Chart, October 12, 2022,

PEP Stock Market Analysis: We are moving lower in an overlapping structure which usually signifies the trend is weakening.

PEP Elliott Wave count: {c} of 2

PEP Technical Indicators: We are starting to form RSI bullish divergence.

PEP Trading Strategy: We can take short term shorts, and wait for the large move-up we are anticipating.

Analyst: Alessio Barretta

Pepsico Inc., PEP: 4-hour Chart, October 12, 2022

Pepsico Inc., Elliott Wave Technical Analysis

PEP Stock Market Analysis: Potential ending diagonal forming in wave {c} as we approach the second largest volume point where the green line is.

PEP Elliott Wave count: {c} of 2.

PEP Technical Indicators: Below all averages, 20 EMA acting as resistance.

PEP Trading Strategy: In the following session I will expect further downside as long as we do not break the top of wave (iv) at 164$.

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