PepsiCo (PEP) Cryptocurrency Value Experiences Pullback from Annual High: A Comprehensive Analysis

PepsiCo’s (PEP) Stock Price Pulls Back from Annual High

  • PepsiCo’s first-quarter report exceeded expectations despite a setback from FDA’s recall of Quaker Oats products.
  • The PEP stock price reached an annual peak of over $180 in April and a new yearly high of over $181 in May.
  • Technical analysis suggests a potential retracement, with resistance levels at $180 and the median line of the blue channel.

After reaching an annual high, PepsiCo’s stock price shows signs of a pullback, raising questions about potential market retracement.

PepsiCo’s First-Quarter Report Surpasses Expectations

On April 23, PepsiCo released its highly anticipated first-quarter report. Despite a setback from the FDA’s recall of over 40 Quaker Oats products in December 2023, which resulted in a 22% drop in Quaker Food sales volume for the quarter, the report exceeded expectations. Earnings per share were $1.16, surpassing the expected $1.518, and gross revenue was $18.25 billion, beating the expected $18.08 billion.

PEP Stock Price Hits Annual High

By April 25, PepsiCo’s (PEP) stock price reached its annual peak, surpassing $180. Then, on May 13, the stock price hit a new yearly high, exceeding $181. Technical analysis of the PEP stock chart shows the price within a long-term upward channel (blue) and a short-term, steeper ascending channel (green) formed since March.

Potential Retracement on the Horizon

The price of PEP stock has risen by about 10% since early March, potentially prompting shareholders to consider profits. David Flavell, Vice President, General Counsel, and Secretary of PepsiCo, sold over 6,000 shares on May 10. This suggests that the PEP stock market may be vulnerable to a retracement, with potential resistance levels at $180 and the median line of the blue channel.


If a correction occurs, a decline towards the lower boundary of the green channel is possible. Analysts forecast an average price target of $190 for PEP stock within the next 12 months. Despite the potential pullback, the long-term outlook for PepsiCo remains positive.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

Latest News


PRO Analysis

FLOKI (FLOKI) Breakout Analysis: Potential for More Gains or Imminent Reversal?

Floki's recent price rally has caught the...

Ethereum (ETH) Price Analysis: Key Insights and Trends for July 4, 2023

Ethereum (ETH) continues to capture the attention...

Polygon (MATIC) Price Prediction: Can MATIC Surge 17% Soon? In-Depth Analysis Inside

Polygon's (MATIC) Market Value to Realized Value...

XRP (BTC/USD) Price Analysis: Key Insights and Trends for July 4, 2023

XRP (XRP) has shown notable price movements...

Cardano (ADA) Price Analysis: Key Insights and Trends for July 4, 2023

Cardano (ADA) continues to be a focal...
Marisol Navaro
Marisol Navaro
Marisol Navaro is a young 21-year-old writer who is passionate about following in Satoshi's footsteps in the cryptocurrency industry. With a drive to learn and understand the latest trends and developments, Marisol provides fresh insights and perspectives on the world of cryptocurrency.

Stanley Druckenmiller’s Insights on Fed Policies, AI, and Global Market Trends: Implications for Bitcoin (BTC) and Ethereum (ETH)

In a recent CNBC interview, billionaire investor Stanley Druckenmiller shared his thoughts on a wide range of topics, including the Federal Reserve’s...

US House Passes Groundbreaking Crypto Bill Boosting Bitcoin (BTC) and Ethereum (ETH) Prospects

The cryptocurrency community is abuzz with the recent approval of a new bill by the US House of Representatives. This bill,...

Alchemy Pay (ACH) and Metis (METIS) Announce Strategic Partnership to Boost Crypto Accessibility

Alchemy Pay and Metis have announced a strategic partnership aimed at enhancing crypto accessibility. This collaboration is set to leverage both...