For today's chart we've chosen to take a look at Pepsico Inc (NYSE:PEP) because several technical indicators are suggesting that we could see a pullback toward significant levels of support. As you can see from the chart below, today's 2.5% decline triggered a bearish MACD crossover, which is a common signal used by traders to illustrate increased selling pressure. We've also included the Parabolic SAR and the Relative Strength Index because both of these indicators are suggesting that the rally is getting over extended. The RSI has recently dropped below 70, which is a common level that is used to suggest that the rally is overbought. Traders will likely use these indicators to confirm the MACD sell sign. We'll watch to see if the bears step in and push the price of Pepsico's stock down toward the ascending trendline, which is currently near $67.
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