Pepsico INC Price Prediction: Will PEP Stock Surpass $200?
- Pepsico INC price prediction unveils that the stock is bullish in the long term
- PEP stock price surged 8% in one year.
- PEP stock price has entered in correction phase after falling from its all-time high of $196.88.
Pepsico INC’s price prediction shows that the stock has been rising steadily after a correction that happened in December 2022. The PEP stock price started its recovery towards the end of January 2023 and delivered growth of 16.65% before its correction from its all-time high of $196.88.
PEP stock closed its trading session on 7 July 2023 at $183.08. The price dropped 1.89% below its previous day. The overall market cap for Pepsico INC is $252.22 billion.
Can Pepsico, INC Rebound From its Pullback?
Pepsico INC price prediction highlights the long-term bullish trend for the PEP stock price. The market is getting support on a long-term trendline. The PEP stock price is trading above the 200 EMA. Recently, the price witnessed a correction of 7% from the swing high to its current market price.
The market now faces a resistance at $186.81. The 9 and 15 EMA has turned flat suggesting a sideways price action in the short term. Post the correction, PEP stock price bounced from its support at $179.51 before getting a rejection at the resistance of 186.81. The momentum has diminished and the trading range has decreased.
Will the Market Sustain Above its Support?
The 4-hour chart suggests that the market is creating a double top at the resistance. The uptrend still remains intact as the price closed above the 200 EMA. The price may move in a range as the investors may think to take some profits home. The last candle closed as a bearish engulfing pattern
The PEP stock price has 2 possibilities from here. If the market breaks above the resistance, the prices may go up to an all-time high. Esle, the price may slide down to a lower support level between $175-$180. The current price action may confuse a lot of investors and it’s best to wait for the break of the resistance.
RSI: The RSI indicator is currently at 40.48 This represents the weakness of the market where the price is controlled by the sellers. The market may continue to move down until RSI crosses 50.
MACD: MACD made a bearish crossover. The indicator is above the 0 line. The market may get some consolidation or correction, but won’t fall significantly until MACD goes below the 0 line
200 EMA: On the 4-hour chart, the price is trading extremely close to the 200 EMA. This suggests that the market may move sideways in the short term. It would be wise to wait for the price to move away from the indicator to establish a clear trend.
Pepsico INC price prediction shows that the stock has been rising steadily after a correction that happened in December 2022. The PEP stock price recently entered a correction phase after printing a new all-time high. The overall trend stays intact until the price breaks below the 200 EMA or the daily trendline. Investors may wait for a reversal at the support and avoid selling in this uptrend.
- The nearest support: $179.51
- The nearest resistance: $186.81
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.