Pepsico Inc.(PEP:NASDAQ) Elliott Wave Technical Analysis October 12 2022

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Pepsico Inc., Elliott Wave Technical Analysis

Pepsico Inc., (PEP:NASDAQ): Daily Chart, October 12 2022, 

PEP Stock Market Analysis:We are moving lower in an overlapping structure which usuallysignifies the trend is weakening.

PEP Elliott Wave count: {c} of 2

PEP Technical Indicators:We are starting to form RSI bullish divergence.

PEP Trading Strategy: We can take short term shorts, and wait for the large move up we areanticipating.

TradingLounge Analyst: Alessio Barretta

 

 

 

 

Pepsico Inc., PEP: 4-hour Chart, October 12 2022

Pepsico Inc., Elliott Wave Technical Analysis

PEP Stock Market Analysis: Potential ending diagonal forming in wave {c} as we approach hesecond largest volume point where the green line is.

PEP Elliott Wave count: {c} of 2.

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

PEP Trading Strategy: In the following session I will expect further downside as long as we donot break the top of wave (iv) at 164$.