Pepsico may fall to 158.80 - 161.30

Our pivot point is at 176.7.

Our preference

As long as 176.7 is resistance look for 161.3.

Alternative scenario

The upside breakout of 176.7 would call for 181.3 and 183.9.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI would call for further downside. Moreover, the share stands above its 20 day moving average (171.9255) but below its 50 day moving average (173.6206).

Supports and resistances

183.9 **

181.3 *

176.7 **

175

172.54 (USD-last)

164

161.3 **

158.8 *

156.2 **

Number of asterisks represents the strength of support and resistance levels.