Pepsico gives in to negative pressure - Analysis - 20-11-2023

Pepsico's stock (PEP) fell in the intraday levels, after testing the downward secondary trend line in the short term, while touching the resistance of the 50-day SMA, with negative signals from the RSI after reaching overbought levels compared to the stock's movements, hinting at negative divergence.

Therefore we expect more losses for the stock, targeting the support of 161.00, provided the resistance of 167.00 holds on.

Expected trend for today: Bearish