Possible Bullish Inside Day Candle Pattern Detected for PepsiCo (NYSE:PEP)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in PepsiCo (NYSE:PEP) based on the price action in the company's shares. Today's price range of $104.30 and $105.01 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of PepsiCo may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.
In the past 52 weeks, PepsiCo share prices have been bracketed by a low of $76.48 and a high of $110.94 and are now at $104.98, 37% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.
There is potential upside of 1.0% for shares of PepsiCo based on a current price of $104.98 and an average consensus analyst price target of $106.00. The stock should discover initial support at its 50-day moving average (MA) of $101.96 and subsequent support at its 200-day MA of $98.71.
PepsiCo, Inc. operates worldwide beverage, snack and food businesses. The Company manufacture or uses contract manufacturers, market and sell a variety of grain-based snacks, carbonated and non-carbonated beverages and foods in countries throughout the world.
SmarTrend is monitoring the recent change of momentum in PepsiCo. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of PepsiCo in search of a potential trend change.
Keywords: bullish inside day candle PepsiCo