Pepsico Inc., (PEP:NASDAQ) Elliott Wave Technical Analysis August 17 2022

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Pepsico Inc., Elliott Wave Technical Analysis

Pepsico Inc., (PEP:NASDAQ): Daily Chart, August 17, 2022,  
PEP Stock Market Analysis: Moving as expected, we are looking for extension higher as expected. We should be in wave (iii) of {iii} of 3 as expected, which should give us a vertical incline.  

PEP  Elliott Wave count:  (iii) of {iii} of 3
PEP Trading Strategy: Build long positions on every bullish pullback with stop on the last significant low. Short term we strongly favor the upside.  

PEP Technical Indicators: We are above all EMAs and there’s more room for further RSI upside.    
TradingLounge Analyst: Alessio Barretta

 

 

Pepsico Inc., PEP: 4-hour Chart, August 17  2022,  

Pepsico Inc., Elliott Wave Technical Analysis
PEP Stock Market Analysis: Looking for wave (iv) of {iii} for a potential entry.

PEP Elliott Wave count:  Wave (iii) of {iii}
PEP Technical Indicators: All technical indicators suggest bullish momentum.  

PEP Trading Strategy: Looking for bounces off the 20 EMA(red line) as support.