September 22, 2020 at 03:08PM
• PepsiCo reversed from support zone
• Likely to rise to 135.00
PepsiCo recently reversed up from the support area lying between the support level 129.35 (which earlier formed the two consecutive Bullish Engulfing patterns in June) and the lower daily Bollinger Band.
The upward reversal from this support zone stopped the previous two downward impulse waves (iii) and C.
PepsiCo is expected to rise further and re-test the next resistance level 135.00 (former multi-day support from the start of September).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/pepsico-wave-analysis-22-september-2020-20200922/
Selected by fonecable.com
- Australian Dollar Forecast: Major AUD/NZD Bottom May Soon Be Approaching
- British Pound Slips After Data, Still Tied to Range. Can GBP/USD Break Out Ahead of FOMC?
- How to Research Stocks: A Step by Step Guide
- Gold Price Outlook Turns to UofM Sentiment as US Dollar, Treasury Yields Rally
- New Zealand Dollar Outlook: NZD/USD Drops on US Dollar Bids, Wall Street Losses