PEP testing key resistance

PepsiCo Inc. (PEP) having recently come off long-term support, is now testing key resistance, able to absorb weekly buying pressures.

From here, (PEP) can return to long-term support, where a monthly low can be placed.

Thus, there is a two-sided framework.

Buying at long-term support in anticipation of bullish continuation over the following 5 - 6 months, or waiting for a weekly settlement above key resistance where gains of 20% would be expected over a similar time horizon.