Momentum Reversal? Pepsi’s Heads Down for the First Time in 5 Days

The Hourly View for Pepsi

  • Currently, PEP’s price is down $-0.69 (-0.46%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved up.
  • Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
  • The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Pepsi’s hourly price chart is shown below.

PEP

The Daily View for Pepsi

  • Currently, PEP’s price is down $-0.1 (-0.07%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Pepsi has now gone up 8 of the past 10 days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Pepsi. Given that we see an uptrend on the 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Below is a daily price chart of Pepsi.

PEP

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