PepsiCo Inc. (PEP) Elliott Wave technical analysis [Video]

PepsiCo Inc. (PEP) – daily chart

• Function: Trend.

• Mode: Impulsive.

• Structure: Motive.

• Position: Wave 1 of (1).

• Direction: Upside in wave 3.

• 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

• Function: Trend.

• Mode: Impulsive.

• Structure: Motive.

• Position: Wave {b} of 2.

• Direction: Downside in wave {c}.

• 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]