Pepsico's $PEP bullish trend in 2019 is coming to an end, or at least taking a break. PEP Daily Chart (click to enlarge) Price Top:- On the daily chart, we can see that price has been bullish since late 2018 when it bounced off $105-$106, a previous support in October '18.- However, price stalled under $135 and has been consolidating between roughly $131 and $135 for almost 2 months. - Price ended last week with a bearish break down of a rising trendline as well as the $131 support.- It is still a premature price top, with the breakdown very subtle. - Furthermore, the daily RSI is still holding above 40, a sign that the bullish momentum is still linger.- The thing is, during the 7/23 session, we saw price try to rally but retreated from $132. This is another subtle bearish sign.- Maybe we will see a dip. - If it does, I would love to add exposure around $123-$125 (I have a small position in PEP). - I have dry powder for the $125 area right now.- The $122.50 area was a previous resistance and could turn into support in the bullish scenario.- The reason I am assuming the bullish scenario is because the weekly chart shows us a market that has been bullish, then sideways, and is bullish again. - Perhaps we will see some consolidation, but I think the downside might be limited to $120. - I am considering being more patient and preparing dry powder for $120 area instead of $125. PEP Weekly Chart (click to enlarge)