The share price of one of America’s multinational food, snack, and beverage corporation, PEPSICO, hit a new all-time high at $171.47 on the 13th of December, 2021. Just like many other stocks, PepsiCo had a dip during the global lockdown in 2020. Price fell from the February 2020 all-time high at $147.24 to $101.54, which was a 31% loss in value. As countries began to ease the lockdown, the price of $PEP recovered over 90% of the losses during the lockdown. Despite the lockdown, in 2020, Pepsico made $70.37 billion in revenue surpassing the 2019 revenue of $67.16 billion. After the lockdown was eased, for the most part of 2020, the price of $PEP was in a range until price broke out to the upside in December 2020.
Price has maintained the bullish trendline since the ease of lockdown in 2020 . There are a few times that price had a correction before the rally continued. The 4hr chart has a pattern of higher highs and higher lows since the lockdown. A reversal might occur after a new all-time has been reached above $171.47. The holidays are coming and investors might decide to take out some cash from investments. This might negatively affect the price of $PEP. Price is currently at $169.31. A correction might devalue the share price to $152, which is the next support level.
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