A clean Descending Triangle often precedes a big move. Validate your entry.
Bearish continuation pattern.
Reversal pattern. Price likely to break upwards.
Technical analysis of PepsiCo (PEP) reveals a significant setup. The stock is trading at $136.64, up 1.25% on the day. The primary technical feature is a Descending Triangle formation. Buying pressure is average relative to the 20-day average. A potential breakout level is identified at $133.73, targeting $118.42 with support near $141.96 (R:R 1.86).
What is your outlook on PEP?