PepsiCo, headquartered in New York and founded in 1965, operates in over 200 countries with a diverse brand portfolio including Pepsi and Tropicana. Despite a stock sell-off in May 2023, the company remains in a bullish cycle, with anticipated patterns suggesting support levels between 142.13 and 116.60.
The stock found support at the expected levels, showing a bounce from 142.13. Projections indicate a further rally towards 162.53, where traders should consider taking profits while maintaining a stop at 116. Overall, the outlook for PepsiCo appears positive in both the short and long term.
PepsiCo’s movements over the past year have followed the patterns we expected. The dip to the support range between 142.13 and 116.60 played out almost exactly to plan, with the stock reversing at the upper bound of that zone and beginning its climb. What this tells us is that market participants recognised value in those levels, which could mean they will serve as a foundation for future price action.
With the stock showing a clear recovery from that support area, the next target remains 162.53. If momentum holds steady, that level could be reached sooner rather than later. Traders managing risk should be attentive near that price, since it represents an area where profit-taking could introduce volatility. Taking partial profits while the price approaches 162.53 is a reasonable approach, while keeping stop-loss levels in place helps protect against any unexpected reversals.
Given the stability of PepsiCo’s broader trend, short-term fluctuations do not change the bigger picture. As long as prices remain comfortably above 116, the bullish case is intact. The reaction around 162.53 will be telling—whether price consolidates, pulls back, or pushes through will dictate the next moves for those holding positions. For now, maintaining a positive stance while monitoring these levels is the strategy we favour.
