Pepsi Co (PEP) – Bearish DailyPlay for Wednesday, Dec 19th, 2018
The bearish DailyPlay we chose for Wednesday, Dec 19th is Pepsi Co (PEP). PEP is part of the Consumer Staples Sector (XLP). Over the last month, XLP has experienced a 5.88% move lower and its 1m and 6m trend have turned bearish on 12/17 and recently broke below $53 support level.
Pepsi Co’s 1m and 6m trends turned bearish on 12/17 and recently broke below its $114 support level. With a technical score of 8 (out of 10), PEP is a strong stock that is starting to turn lower.
As a stop loss, if WYNN was to trade above $114 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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