PepsiCo, Inc: Will PEP Stock Price Ascend the $200 Mark In 2023?

• PepsiCo, Inc. (NASDAQ: PEP) shares ascend at a steady rate towards its all-time high
• PEP stock price soared 12.70% in the last one year.
• PEP stock price has made a recovery of 7% from its swing low of $179.51

PepsiCo, Inc.’s (NASDAQ: PEP) price prediction shares a closer look at bullish market sentiments as the price makes way for an all-time high. The PEP stock price has maintained a steady bullish trend since the end of January 2023. The price started a recovery, which succeeded in a correction that happened in December 2023. The PEP stock price made a move of almost 16% before correcting to its current market price.

At the time of writing, PepsiCo, Inc. closed its trading session on Tuesday 25th July 2023 at $191.36. This marked a rise of 0.23%% over the prior day.

Can PepsiCo, Inc. Stock Price Break the All-time High?

PepsiCo, Inc.’s stock price ascended to a new all-time high of $196.88 in May 2023. It was followed by a steep correction of 8.61%, sinking the price to support of $179.51. The PEP stock price has made a recovery of almost 7% ever since. The price floats above the 9, 15, and EMAs.

This indicates that the market is strong with buyers who are willing to buy at the rising price. The PEP stock price is climbing to an all-time high. Should the market maintain its bullish momentum, the price may ascend to new heights in the short term. This may happen if the bulls break past the previous all-time high.

Will PEP Stock Price Maintain its Bullishness?

On the 4-hour chart, the market has been consolidating in a range for the past few days. The PEP stock price kept bouncing on the 200 EMA, where the bulls got a chance to accumulate shares in the dip. This resulted in a range breakout on July 20, 2023, which escalated the price to its current level.

Another observation reveals that the volume has fallen with the rise in price in the last few candles. It may lead to some minor retracements, but the overall trend still remains bullish. The PEP stock price may continue to surge as long as buyers show interest. If the price decides to correct, it will have the buyer’s support at $186.81.

RSI

The RSI indicator is currently at 67.22. It represents an overbought condition where the market trend is extremely bullish. The price may continue to climb unless the RSI exceeds 50

MACD

MACD has made a bullish crossover above the 0 line. This represents bullish market conditions and the price may rise further until the MACD makes a bearish crossover.

200 EMA

On the 4-hour chart, the price is above the 200 EMA. This means that the market is bullish with the control of the buyers. The 200 EMA acts as a dynamic support, and the PEP stock price may increase until it breaks below the 200 EMA.

Conclusion

PepsiCo, Inc.’s (NASDAQ: PEP) price prediction shares a closer look at bullish market sentiments as the price makes way for an all-time high. The stock price maintains a steady growth since the start of the year 2023. The current trajectory suggests that the PEP stock price could escalate to newer heights. However, it’s important to maintain a proper risk management plan to save yourself from big losses. The price may get a minor correction but with no signs of a trend reversal

Technical Levels 

• Support level: $187
• Resistance level: $196.88

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.