$PEP Long term play

$PEP - we went long on 7/17 135c at 2.7 on Friday

One of my favorites for a swing. Friday close, PEP was able to reclaim the 9 EMA and hold. However, there is a lot of resistance ahead. We have the 100 SMA, 134.51 and 135.17 resistance levels for further upside in a short period time. 136.63 and 136.95 levels are what I'm keeping an eye on in order to get in a longer swing. It needs to break through those levels and hold. Coming into this week, 132.28 and 130.98 are chop zones for me. Also to keep in mind, PEP just had 6 inside weeks of consolidation if you take a look at the weekly time frame. We need to see a clear direction, either to upside or downside. In the bigger picture chart, PEP has been bouncing between 76.4% and 61.8%, and MACD is pinching. We should get a direction very soon.

My overall sentiment on $PEP is Neutral. Coming weeks will change that depending on which direction we go.

UPSIDE TARGETS - 132.28, 133.19, 134.51, 135.17, 135.99, 136.63, 136.95 and 139.07

DOWNSIDE TARGETS - 130.98, 130.48, 129.89, 129.64 and 129.06