Technical Analysis - PepsiCo (PEP) has recently reached a key level of support and has overtaken the 200-day moving average, indicating a long-term bullish trend [1] - The 200-day simple moving average is a widely-used indicator that helps establish market trends, and PEP has gained 7.4% over the past four weeks [2] Earnings Estimates - Positive earnings estimate revisions for PEP strengthen the bullish case, with no estimates going lower in the past two months and 9 estimates being revised higher [3] - The consensus estimate for PEP has also increased, suggesting potential for further gains in the near future [3] Market Position - PEP is currently ranked a Zacks Rank 2 (Buy), indicating strong potential for the stock to move even higher [2]