The bearish DailyPlay we chose for Wednesday Oct 18th is PepsiCo (PEP). PEP is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 1.65% move lower and its 1m and 6m trend has turned neutral and bearish yesterday while bouncing lower off its $54.50 resistance level.
PepsiCo’s 1m and 6m trends turned neutral and bearish yesterday while bouncing lower off its $114 resistance level. With a technical score of 4 (out of 10), PEP is a strong bearish stock that is likely to continue lower.
As a stop loss, if PEP was to trade above $114 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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