December 8 Chart of the Day - PepsiCo

Highly precise price action technical analysis offers the strongest trading edges and the most opportunities across the markets, making it the foundation of our reviews.

PepsiCo (PEP), the global food and beverage leader behind Pepsi, Mountain Dew, Gatorade, Lay’s, Doritos, Tropicana, and dozens of household brands, continues to pull back from its 2023 high after an extended multi-year uptrend.

Price action has now reached a critical confluence of trend support and Fibonacci levels, giving traders a clear zone to watch as the stock works through this correction. The next directional move will reveal whether this is a routine retracement or the start of a deeper long-term rotation.

We'll review the chart from a price action perspective to identify potential levels of interest in both directions.

The charts highlight key levels where investors and traders alike will be watching closely.

Consistent profitable investing and/or trading requires a structured, rules-based approach to price action analysis. Proven processes, disciplined risk-reward management, and precise execution create the foundation for long-term success.

When combined with powerful mental performance strategies, this method becomes the ultimate blueprint for thriving in any market, on any time frame. 

As requested, this analysis will take a price action technical analysis approach to assess key levels and potential next price moves for this chart.

Since May 2023, we've showcased over 650+ Charts of the Day and provide a Free Quick Start Guide to traders with ambitious income goals for our patent-pending NeuroTrading Method™.

Monthly Chart 

The monthly chart showcases a long and steady uptrend that carried PEP from the sub $60 region into a near $200 peak at $196.88. The subsequent decline is now pressing into a powerful support cluster that includes the rising trend line and several major Fibonacci retracement levels.

On the upside, major resistance awaits at $162.32 and $170.47, both of which are early targets if price can stabilize and reclaim momentum.

With plenty of volatility traders have had much to be happy with and long term buy and hold investors have been greatly disappointed.

This kind of movement highlights why a cautious and well-informed approach is essential when evaluating a stock’s short to mid term outlook.

Weekly Chart

The weekly chart puts the entire corrective structure into sharp focus. After topping at $196.88, price fell through several layers of support and only found buyers at the exact trend line reinforcement shown on the monthly chart.

It goes without saying though, the only guarantee in the markets is that price cycles.  It cycles up and it cycles down across all time frames and all charts and rarely, if ever, moves in a straight line.

Only time will tell for sure what price will do next...

We’ve combined Fibonacci levels with key support/resistance zones and trend analysis to pinpoint potential price levels of interest and future targets.

With precision-focused charts like these, both traders and investors can confidently build and execute their strategies.

So what's next? 

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