Pepsi: Historical Lows & Swing Trade Opportunities

Pepsi has been on a tear recently. After a major sell-off from a $122 high to a $94 bottom, PEP has made an incredible 18% recovery. Today, July 10th, the breakout volume on the open was incredibly strong.

With the daily RSI is getting close to oversold conditions, I could see PEP short-term price recovering to previous support level around the $109 level, before regaining momentum to the upside.

Watch for the RSI levels to cool off and present another swing trade opportunity.