PepsiCo shares slip for a second session in a row on Friday, company to move listing to NASDAQ after a 98-year association with NYSE

After a 98-year association with the New York Stock Exchange, PepsiCo Inc (PEP) reportedly intends to move its listing to tech-heavy NASDAQ.

PepsiCo shares closed lower for a second consecutive trading session on Friday. The stock edged down 0.14% ($0.16) to $116.57, after touching an intraday low at $115.90, or a price level not seen since December 1st ($115.04).

In the week ended on December 10th the shares of the food and beverage company lost 0.18% of their market value compared to a week ago, which marked the first drop out of five weeks.

The stock has pared its advance to 0.04% so far during the current month, following a 5.71% surge in November. The latter has been the first gain out of four months and also the largest one since February.

For the entire past year, the shares of the NYSE-listed beverage company rose 4.71%. The stock has gained another 11.41% so far in 2017.

The shares are to start trading on the NASDAQ on December 20th.

“We believe this move will provide us with greater cost-effectiveness and access to Nasdaq’s unique portfolio of tools and services to connect with our investors more efficiently”, Jamie Caulfield, PepsiCo’s senior vice president of investor relations, was quoted as saying by Reuters.

Data by the NYSE showed that PepsiCo Inc was first listed there on December 18th 1919. Back then the company was under the name of Loft Inc.

According to CNN Money, the 24 analysts, offering 12-month forecasts regarding PepsiCo Inc’s stock price, have a median target of $124.50, with a high estimate of $139.00 and a low estimate of $107.00. The median estimate is a 6.80% surge compared to the closing price of $116.57 on December 8th.

The same media also reported that 13 out of 27 surveyed investment analysts had rated PepsiCo Inc’s stock as “Buy”, while 11 – as “Hold”.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, today’s levels of importance for the PepsiCo stock are presented as follows:

R1 – $116.63
R2 – $116.70
R3 (Range Resistance – Sell) – $116.76
R4 (Long Breakout) – $116.96
R5 (Breakout Target 1) – $117.18
R6 (Breakout Target 2) – $117.27

S1 – $116.51
S2 – $116.44
S3 (Range Support – Buy) – $116.38
S4 (Short Breakout) – $116.19
S5 (Breakout Target 1) – $115.96
S6 (Breakout Target 2) – $115.87

By using the traditional method of calculation, the weekly levels of importance for PepsiCo Inc (PEP) are presented as follows:

Central Pivot Point – $117.13
R1 – $118.35
R2 – $120.14
R3 – $121.36
R4 – $122.59

S1 – $115.34
S2 – $114.12
S3 – $112.33
S4 – $110.55