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Keep an eye on PepsiCo (PEP). Oversold with a yield of 2.72%, we can get paid to wait for the stock to recover. Technically, after dropping from about $195 to $180, the stock is starting to pivot higher. It’s also over-extended on RSI, MACD, and Williams’ %R, and could eventually retest $195 again soon.
Better, if you pull up a two-year chart of PEP, you can see that each time these indicators align in oversold territory, PEP bounces. We’re seeing it happen again now. We also saw it happen in January 2023, September 2022, June 2022, May 2022, and also in March 2022.