Stock of the day: Pepsi

Pepsi is currently facing bearish pressure, aligning with the broader market’s struggles. The situation has turned concerning as the price breached the key horizontal support around $157, marked with a blue line. This level had acted as a significant support, and its breakdown is a strong bearish signal, indicating potential further downside.

As long as the price remains below this blue support, the sell signal persists, reflecting the negative sentiment surrounding the stock. A recovery above this level could negate the bearish outlook and serve as a signal to buy, but the likelihood of such a rebound appears limited under current market conditions. This technical setup highlights the challenges Pepsi faces amidst broader market corrections, making it an essential watch for traders navigating the downturn.

Source: https://www.axiory.com/analytics/stock-of-the-day/stock-of-the-day-pepsi