PepsiCo Inc. (PEP stock) will announce its quarterly earnings today

Today’s instrument is PepsiCo Inc., a beverage and convenience food company, which is traded in the NASDAQ exchange under the ticker PEP.

Looking at the PEP’s chart, we can see it’s been in a downtrend for the past month, reaching the current price of around $162.49.

It is expected to announce its quarterly earnings today and if the market’s anticipation is positive then we should expect it to rise towards its resistance level at around $166.50 otherwise it could fall towards its support level at around $161 and if failed to keep it above the psychological level of $160 it could drop to the next support level at around $158.