Pepsico Inc.(PEP:NASDAQ) Elliott Wave Technical Analysis18 May 23

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Pepsico Inc., Elliott Wave Technical Analysis

Pepsico Inc.,  (PEP:NASDAQ): Daily Chart, 18 May 23,

PEP Stock Market Analysis: Looking for an extension higher into wave 3 as we seem to decompose into a clear five wave move. At this point, given the magnitude of the sharp move down from the top is looks like we could have started wave {iv}.

PEP Elliott Wave Count: Wave {iv} of 3.

PEP Technical Indicators: Above all averages.

PEP Trading Strategy: Looking for further upside, but first a clear three wave move.

TradingLounge Analyst: Alessio Barretta
 

 

 

 

Pepsico Inc., PEP: 4-hour Chart, 18 May 23,

Pepsico Inc., Elliott Wave Technical Analysis
PEP Stock Market Analysis: Looking for confirmation of wave {iv}, we can start looking for longs after we reach around the 38.2% retracement of wave {iii} and potentially touch the parallel base channel.

PEP Elliott Wave count:  Wave (a) of {iv}

PEP Technical Indicators: Below 20EMA.

PEP Trading Strategy: Looking for a clear wave {iv} before considering longs.