Pepsi has been on a tear recently. After a major sell-off from a $122 high to a $94 bottom, PEP has made an incredible 18% recovery. Today, July 10th, the breakout volume on the open was incredibly strong.
With the daily RSI is getting close to oversold conditions, I could see PEP short-term price recovering to previous support level around the $109 level, before regaining momentum to the upside.
Watch for the RSI levels to cool off and present another swing trade opportunity.
With the daily RSI is getting close to oversold conditions, I could see PEP short-term price recovering to previous support level around the $109 level, before regaining momentum to the upside.
Watch for the RSI levels to cool off and present another swing trade opportunity.