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CFDs and spread bets are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs and spread bets with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Asset Watch
Wednesday February 14, 2023, 5pm GMT
Source: TradingView
Then the technical backdrop is constructive. The upward slowing grey line shows PepsiCo has bounced off monthly support, and prior iterations resulted in solid rallies.
Additionally, PepsiCo closed above its 200-day moving average on Feb. 10, and the last five times this occurred, four major rallies followed, while one trough-to-peak rally of 7.6% was present in May.
If history is any indication, more upside should be on the horizon. PepsiCo is also a great mean-reversion play when considering the YTD underperformance.
So, does the stock have all the ingredients for another upswing, or will the CPI sour the mood on Wall Street?
Sources:
Sector performances:
PepsiCo earnings and transcript:
https://www.cnbc.com/2023/02/09/pepsico-pep-q4-2022-earnings.html
https://investors.pepsico.com/investors/financial-information/quarterly-earnings/
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