Technical Earnings Preview: PepsiCo near triggering of bullish patterns
Ahead of earning the stock is very close to life highs and near to triggering two potential bullish patterns. The patterns in question are different interpretations based on the relative irregularity of both. The best way to see these is to look at a multi-year monthly chart. On that basis there is either a potential bullish ascending triangle or a potential cup and handle pattern that would both be confirmed as active on a sustained move above $123. If there is good news and price pushes above that level and the life high, the cup and handle gives an upside objective in the $140 area and the bullish ascending triangle gives an objective to the low $150s. On a negative surprise a drop in price below $115-$114 would void the patterns.