PepsiCo Inc.(PEP:NASDAQ) Elliott Wave Technical Analysis October 18 2022

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PepsiCo Inc., Elliott Wave Technical Analysis

PepsiCo Inc., (PEP:NASDAQ): Daily Chart, October 18 2022, 

PEP Stock Market Analysis:We had the move higher we were expecting, despite it happeningone leg soon than we anticipated. At this point we can start thinking the uptrend has resumed.

PEP Elliott Wave count: wave {ii} of 3.

PEP Technical Indicators:We broke through all the averages.

PEP Trading Strategy: Looking for lower timeframes confirmation regarding the end of wave{ii}.

TradingLounge Analyst: Alessio Barretta

 

 

 

 

PepsiCo Inc., PEP: 4-hour Chart, October 18 2022

PepsiCo Inc., Elliott Wave Technical Analysis

PEP Stock Market Analysis: We can count five waves up into wave {i} and we are looking forone leg lower into wave (c) to complete higher degree wave {ii}.

PEP Elliott Wave count: (b) of {ii}.

PEP Technical Indicators:Looking to find support off the 200EMa(purple line).

PEP Trading Strategy:We could look for very quick trades to the downside into wave (c) or elsewait for further confirmation about the end of wave {ii}.