PEP - Good News For Dumb Money: Pepsico Prints A HTF Sell Signal"Good news" for non-technical buyers as "Elliott takes aim at PepsiCo with $4 billion stake; shares rise."
But PepsiCo is printing a nasty Gap-up-dump-down shakeout pattern above resistance as September opens.
This appears to be a terminal shakeout that can send PEP tumbling.
Up on the week chart
Key facts today
Elliott Investment Management has bought a $4 billion stake in PepsiCo, pushing for changes to boost its share price, which has dropped over 25% since May 2023. Shares rose 4.8% in premarket trading.
0.26 USD
8.51 B USD
81.58 B USD
About PepsiCo, Inc.
Sector
Industry
CEO
Ramon Luis Laguarta
Website
Headquarters
Purchase
Founded
1965
ISIN
ARDEUT111416
FIGI
BBG000HG6DX4
PepsiCo, Inc. engages in the manufacture, marketing, distribution, and sale of beverages, food, and snacks. It operates through the following business segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), PepsiCo Beverages North America (PBNA), Latin America (LatAm), Europe, Africa, Middle East, and South Asia (AMESA), and Asia Pacific, Australia and New Zealand, and China Region (APAC). The FLNA segment consists of branded convenient food businesses in the United States and Canada. The QFNA segment includes cereals, rice, and pasta under the Quaker, Pearl Milling Company, Quaker Chewy, Cap'n Crunch, Life, and Rice-A-Roni brands. The PBNA segment is composed of beverage concentrates, fountain syrups, and finished goods under various beverage brands such as Pepsi, Gatorade, Mountain Dew, Diet Pepsi, Aquafina, Diet Mountain Dew, Sierra Mist, and Mug. The LatAm segment covers beverage, food, and snack businesses in the Latin American region. The Europe segment offers beverage, food, and snack goods in Europe and Sub-Saharan Africa regions. The AMESA segment deals with all beverage and convenient food businesses in Africa, the Middle East, and South Asia. The APAC segment refers to all business operations in the Asia Pacific, Australia and New Zealand, and China region. The company was founded by Donald M. Kendall, Sr. and Herman W. Lay in 1965 and is headquartered in Purchase, NY.
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PEP is in the Wyckoff Accumulation phaseThis Week (July 8 - 12):
Support: The recent consolidation shelf around $130.00 is the first line of defense. The absolute low and our line in the sand is the Selling Climax low at $127.60.
Resistance: The 20-week moving average at $138.30 is the immediate ceiling it needs to break through.
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Summarizing what the indicators are suggesting.
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Moving Averages
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Displays a symbol's price movements over previous years to identify recurring trends.