PepsiCo Stock In Uptrend With Golden Cross In Sight, Driven By Q1 Earnings Beat
PepsiCo Inc (NYSE:PEP) stock has a Golden Cross pattern in the making — a bullish technical signal indicating a potential uptrend.
This comes as PepsiCo delivered an earnings beat on April 23, with a 5.92% surprise on EPS and a 0.94% surprise on revenue.
A Golden Cross In The Cards
The Golden Cross pattern that may form soon, coupled with positive earnings and analyst sentiments, indicates a positive outlook for PepsiCo stock.
Chart: Benzinga Pro
The Golden Cross pattern is a bullish technical signal indicating a potential uptrend.
This occurs when the stock’s short-term moving average, such as the 50-day moving average (orange line in chart above), crosses above its long-term moving average, like the 200-day moving average (blue line in chart …
Full story available on Benzinga.com