Pepsico may fall to 162.80 - 165.20

177 is our pivot point.

Our preference

As long as 177 is resistance look for 165.2.

Alternative scenario

The upside breakout of 177 would call for 181.1 and 183.6.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI should trigger further gains. Moreover, the stock is trading above its 20 day moving average (172.0235) but under its 50 day moving average (173.8324).

Supports and resistances

183.6 **

181.1 *

177 **

175.4

172.95 (USD-last)

167.6

165.2 **

162.8 *

160.4 **

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