Today’s instrument is PepsiCo Inc., a beverage and convenience food company, which is traded on the Nasdaq exchange under the ticker PEP.
Looking at the PEP’s chart, we can see it’s been in a downtrend for the past month, reaching the current price of around $162.49.
It is expected to announce its quarterly earnings today and if the market’s anticipation is positive then we should expect it to rise towards its resistance level at around $166.50 otherwise it could fall towards its support level at around $161 and if failed to keep it above the psychological level of $160 it could drop to the next support level at around $158.
(Click on image to enlarge)
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