PepsiCo is due to report earnings tomorrow The firm is expected to report earnings of $2.15 on revenue of $23.43bn.

PepsiCo is scheduled to report quarterly earnings tomorrow as the Q3 earnings season kicks off. Currently, its stock is trading at $160.31 a share. Looking at the chart simply from a technical viewpoint, we can see that the weekly trendline support (white) has been broken (oval). Which in turn saw the price head lower. However, if we apply the moving averages to the chart, the 50 and 200 are commonly used among traders and investors for longer-term investments, we can see the price has tested the support along the 200 MA ($158.16) but has bounced off it. Technically, it has fallen below it, reaching a low of $155.84. But, unless it closes below it, there is no indication of any further moves lower for the time being. In fact, with the upcoming earnings, we could see some consolidation around current levels or along the moving average. It would be unreliable to look at any resistance levels at this moment in time as the bias has shifted towards bearish. This is supported by the technical indicators at the bottom of the chart, the MACD remains strongly negative and the RSI continues to falter as it reads 29. The RSI has in theory just entered the ‘oversold’ territory.