• 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 cross of MA10 below MA20.
Prices are trading above the at 99.25.
• Higher highs on price charts and higher highs on oscillator chart.
• 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 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-.