CrypTedor

PepsiCo, Head & Shoulders pattern and support breakout analysis

NYSE:PEP   None
The stock has completed a short-term head and shoulders pattern. The price is consolidating and preparing for the next move. It has also broken a support level with high bearish volume and it's going to retest the 110.60 level. If/When the price is gonna swing, the minimum bullish target is around 118.

The informations and the strategies discussed are NOT recommendation to buy, sell or trade any securities. They are strictly for educational and illustrative purposes.

Comments

Expect Consolidation and Reversal at this point. Reversal of 0.618.
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sunlight086 sunlight086
@sunlight086, Stock is also sitting on SMA 200 at this level. Good Support.
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CrypTedor sunlight086
Hi @sunlight086, from a mid-term point of view the retracement seems not finished yet. There is still high bearish volume and the price is still far above the long-term bullish trendline. My advice is to wait until there are strong reversal signals.

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