Earnings Play: PepsiCo
Jason Lubin July 11, 2020 1:06 AM
On Monday PepsiCo is expected to release 2Q earnings.
On Monday, before market, PepsiCo (PEP) is expected to report second quarter EPS of $1.25 compared to $1.54 a year ago on revenue of approximately $15.4B vs. $16.4B last year. PepsiCo is an international beverage and food company, and on July 7th, the company announced that it selected Segun Agbaje as an independent member of the Board and Audit Committee effective as of July 15th. Segun is currently a Managing Director and Chief Executive Officer of a Nigerian multinational financial institution called Guaranty Trust Bank.
From a technical point of view, on a daily chart, PepsiCo's stock price has been consolidating in a range between $126.50 and $138.50 since early-April. The moving averages (MA) are set-up in a bearish manner, the 20-day MA is below the 50-day MA and the 50-day MA is below the 200-day MA. The RSI appears to have peaked back in mid-April at about 59 when price reached the high of the range at $138.50. The RSI has since held below the 59 level with choppy movement and is currently sitting just above 50. Price has not risen above the 200-day MA since mid-May. Price is likely to continue to bounce around in the range, holding below the 200-day MA before breaking below the $126.50 support level, which would clear a path for price to fall to the $122.00 support level. If price manages to break above the 200-day MA we could witness price jump upwards to the $138.50 level. If price can break above the first resistance level, we could see an attempt to test the $144.00 level.
Source: GAIN Capital, TradingView
From time to time, GAIN Capital Australia Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.
As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.