Pepsico Inc., Elliott Wave Technical Analysis

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Pepsico Inc., (PEP ): 4H Chart, Monday, Oct. 23

PEP Stock Market Analysis: Looking for continuation lower into wave 3 as we seem to have an incomplete five wave sequence. We seem to have found resistance on the 1.618 3 vs. 1 from which we could resume lower.  

PEP Elliott Wave Count: Wave {iv} of 3.  

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

PEP Trading Strategy: Looking for shorts into wave {v}.

TradingLounge Analyst: Alessio Barretta
Source: Tradinglounge.com 

Pepsico Inc., : 1-hour Chart, Monday, Oct. 23

Pepsico Inc., Elliott Wave Technical Analysis
PEP Stock Market Analysis: Looking for a potential triangle into wave {iv} as we seem to be moving sideways. We currently stand within the 23.6% retracement of wave {iii} and we could range from there to the 38.2% retracement.  

PEP Elliott Wave count:  Wave {iv} of 3.  

PEP Technical Indicators: Below all averages.

PEP Trading Strategy: Looking for shorts after confirmation of triangle completion.  ​​​​​

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