The bullish DailyPlay we chose for Wednesday Aug 16th is PepsiCo (PEP). PEP is part of the Consumer Staples Sector (XLP). Over the last month, XLP has experienced a 1.12% move higher and its 1m and 6m trend has turned bullish yesterday while breaking above its 50 D SMA.
PepsiCo’s 1m and 6m trends turned bullish on 8/3 and recently broke above its $118 resistance level which becomes support. With a technical score of 8 (out of 10), PEP is a strong bullish stock that looks to continue higher.
As a stop loss, if PEP was to trade below $118 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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