PepsiCo Inc. (PEP) – daily chart
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Function: Trend.
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Mode: Impulsive.
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Structure: Motive.
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Position: Wave 1 of (1).
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Direction: Upside in wave 3.
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Details: We anticipate a bottom in Minor wave 2 around the $150 Medium Level. A further upside move is needed to confirm the continuation of a long-term uptrend.
PepsiCo Inc. (PEP) – One-hour chart
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Function: Trend.
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Mode: Impulsive.
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Structure: Motive.
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Position: Wave {b} of 2.
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Direction: Downside in wave {c}.
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Details: Expecting one more leg lower into wave {c} of 2 before a potential bottom around $150. This level aligns with wave {c} reaching equality with wave {a}.
PEP Elliott Wave technical analysis summary
Daily chart: PepsiCo (PEP) is nearing a potential bottom in Minor wave 2 around $150. Once this correction concludes, further upside is expected, signaling a resumption of the long-term uptrend. Traders should look for price action confirming the start of wave 3, which could indicate bullish momentum.
1-hour chart: PepsiCo (PEP) is expected to decline one more time into wave {c} of 2, approaching $150. This level should mark the completion of the correction, setting the stage for the next bullish phase in wave 3.
PepsiCo Inc. (PEP) Elliott Wave technical analysis [Video]
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