Pepsico Inc.(PEP:NASDAQ) Elliott Wave Technical Analysis August 29, 2022

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Pepsico Inc., Elliott Wave Technical Analysis

Pepsico Inc.,(PEP:NASDAQ): Daily Chart, August 29, 2022, 
PEPStock Market Analysis:As we broke into ATH we are either establishing the start of a new impulsive wave, that being wave (5) ,or else we just completed wave (5). For the time being there’s reason to believe we will see further upside.

PEP Elliott Wave count:  {a} of 2
PEPTrading Strategy: Looking for further downside to complete wave 2 before building longs.

PEPTechnical Indicators:All indicator still suggest we are in a bullish trend.

TradingLounge Analyst: Alessio Barretta

 

 

Pepsico Inc.,PEP: 4-hour Chart, August 29 2022, 

Pepsico Inc., Elliott Wave Technical Analysis
PEP Stock Market Analysis: It looks like we may have a flat correction in wave 2 as we can see three wave into wave {a} of 2 as of now.

PEPElliott Wave count:  Wave (c of {a}.
PEP Technical Indicators:We could end up using the 20 EMA(red line) as resistance to continue lower.

PEPTrading Strategy: If we can get a three wave move of the upside into potential wave {b} we could then look for shorts into wave {c}.