Pepsi (PEP) Closes Last Hour Down $-1.13; Heads Down For the 2nd Straight Day, Price Base in Formation Over Past 30 Days, Nears 100 and 200 Day Moving Averages

The Hourly View for PEP

Last Updated September 16, 2020, 23:11 GMT

Currently, PEP’s price is up $0.45 (0.33%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on PEP. Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 20 hour changed directions on PEP; it is now pointing down. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50 and 100 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Pepsico Inc Daily Price Recap

Pepsico Inc came into today down 0.47% ($0.64) from the open of the previous day, marking the 2nd straight day a decline has happened. This move happened on lower volume, as yesterday’s volume was down 18.15% from the day before — and down 30.96% from the same day the week before. Here is a daily price chart of Pepsico Inc.

PEP

Pepsico Inc Technical Analysis

Coming into today Pepsico Inc is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For another vantage point, consider that Pepsico Inc’s price has gone down 8 of the previous 14 trading days.

Overheard Around the Web

Here’s what one trader on StockTwits recently had to say in regards to PEP:

    $PEP $DOCRF $GRWG | PepsiCo to launch drink to aid sleep as consumers struggle with stress:

    I used to own this name, along with $NBEV . Sold both last year when I went through a “restructuring” of my portfolio. This new product has mildly peaked my interest again. Rumors back then were that $KO would possibly be in the market for a Pot beverage buyout..but, just maybe it will be PepsiCo? On my watchlist, I like the way $PEP is thinking right now – especially given the times.

    Toro81