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Watch for Shares of PepsiCo (PEP) to Approach Support at $74.69

Published on Wed, 02/27/2013 - 10:39
By Peter Chu

Shares of PepsiCo (NYSE:PEP) have bearishly opened below the pivot of $75.46 today and have reached the first support level of $75.16. Investors may be interested in a cross of the next downside pivot targets of $74.69 and $73.92.

In the past 52 weeks, shares of PepsiCo have traded between a low of $62.15 and a high of $76.33 and are now at $74.92, which is 21% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.4%.

PepsiCo, Inc. operates worldwide beverage, snack and food businesses. The Company manufacture or uses contract manufacturers, market and sell a variety of grain-based snacks, carbonated and non-carbonated beverages and foods in countries throughout the world.

PepsiCo (NYSE:PEP) has potential upside of 5.7% based on a current price of $74.92 and analysts' consensus price target of $79.21. The stock should discover initial support at its 50-day moving average (MA) of $71.68 and subsequent support at its 200-day MA of $70.50.

By Peter Chu
pchu@fnno.com