PepsiCo Inc

PEP remains in a Stage 4 decline with a clear sequence of lower highs and lower lows under declining EMAs. Medium-term bias is bearish. Short-term timing is neutral after an extreme oversold bounce fails to reclaim EMAs. Execution is deferred: await a pullback into the 9/21/50 EMA zone for rejection to participate on the downside.

• ↑Dividend per share up 4% to $5.92, marking 54th consecutive raise
• ↑$10B repurchase through Feb 2023, targeting $8.9B total shareholder return by FY26
• ↓Ongoing inflation pressures limit NA volume growth and pricing power