What to trade on May 9-13?
It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
Stock market: Pepsico keeps fighting
2019-11-11 • Updated
Trade idea
BUY 132.60; TP 135.00; SL 131.25
The stock of Pepsico formed a kind of messy inverted “Head and Shoulders”. On W1 we see a sharp reversal of the price to the upside. It has also managed to overcome the July-August resistance line and finally closed above the horizontal 50-day MA in the 131.50 area. Bulls will remain in control as long as Pepsico is trading above the support in the 128.60/127.50 zone. The advance above 132.50 will open the way up to June and July highs in the 135.00 area.
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