Fairlead Strategies Idea Generator
PepsiCo (PEP)
Our newest long idea is PepsiCo (PEP), which looks for a rebound in the coming months after underperforming in January…
PEP has an intermediate-term oversold upturn from the weekly stochastics near long-term cloud-based support (shaded area on the chart), offering a compelling entry point within the long-term uptrend.
After being out of favor in January, PEP looks poised for a phase of outperformance, noting it has seen a positive reaction to a counter-trend “buy” signal from the DeMARK Indicators® in its ratio versus the S&P 500 Index (SPX).
A measured move projects an intermediate-term target of $193 for PEP, assuming it ultimately clears final resistance near $187. The bottom of last week’s earnings gap, near $171, can be used as a stop-loss on consecutive closes below.
PepsiCo (PEP, $175.27)
Target: $193
Stop-Loss: $171
Fairlead Idea Generator is a key validator for me along with other old school analysts & investment rating platforms, which provides me with confirmations of my trades per Fairlead’s timely proprietary chart analysis!