PEP Elliott Wave technical analysis [Video]
|PEP Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave (C) of 4.
Direction: Downside in Wave (C).
Details:
We anticipate continued downside movement in Wave (C), targeting the $100 level. The current price action is aligning well with the downward trajectory.
The daily Elliott Wave analysis for Pepsico Inc. (PEP) shows an ongoing corrective phase within Intermediate Wave 4, unfolding as a zigzag (A)-(B)-(C). Currently, Wave (C) is active and showing an impulsive structure. This suggests further bearish movement, with the target around $100, consistent with the continuation of the correction phase.
PEP Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave {i} of 5.
Direction: Downside within Wave 5.
Details:
Wave {i} of 5 appears completed. A three-wave pullback in Wave {ii} is expected before the downtrend continues with Wave {iii}.
The 1-hour chart analysis of PEP supports a bearish continuation. The initial five-wave sequence forming Wave {i} of 5 has likely completed. A corrective retracement in Wave {ii} is anticipated next. This will likely lead into Wave {iii}, resuming the downward move within the broader Wave (C) structure, reinforcing the intermediate-term bearish outlook.
PEP Elliott Wave technical analysis [Video]
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.