The Daily trend is in an Uptrend technically indicated by following:
• Dow pattern- higher bottoms-higher tops (B1-T1-B2-T2-B3-T3).
• Price is currently trading ABOVE the uptrend line.
The uptrend is confirmed by the bullish cross of MA10 below MA20.
Prices are trading above the support level at 99.25.
RSI:
• Bullish momentum.
• Higher highs on price charts and higher highs on oscillator chart.
• RSI is above the equilibrium level- 50 and near to 70.00(overbought level).
Therefore, we will recommend LONG POSITIONS for the no position holders on PEPSICO. Entry level the break above the high R1 at about 100.50. Take profit at 102.00-10288 (R2), the 161.8% Fib. Stop loss should be a bit below the support level at 99.25 (S1), thus the stop loss is at 98.80.
For Long-holders we will recommend to HOLD their long positions and adopt the same stop loss and take profit orders as mentioned above.
For Short-positions we will recommend to wait for a price charts confirmation -trend reversal pattern-.
• Dow pattern- higher bottoms-higher tops (B1-T1-B2-T2-B3-T3).
• Price is currently trading ABOVE the uptrend line.
The uptrend is confirmed by the bullish cross of MA10 below MA20.
Prices are trading above the support level at 99.25.
RSI:
• Bullish momentum.
• Higher highs on price charts and higher highs on oscillator chart.
• RSI is above the equilibrium level- 50 and near to 70.00(overbought level).
Therefore, we will recommend LONG POSITIONS for the no position holders on PEPSICO. Entry level the break above the high R1 at about 100.50. Take profit at 102.00-10288 (R2), the 161.8% Fib. Stop loss should be a bit below the support level at 99.25 (S1), thus the stop loss is at 98.80.
For Long-holders we will recommend to HOLD their long positions and adopt the same stop loss and take profit orders as mentioned above.
For Short-positions we will recommend to wait for a price charts confirmation -trend reversal pattern-.