PEP: Nearing Bottom of Channel With Two Buy ZonesPepsiCo, Inc.NASDAQ:PEPNexusChartToolsPEP remains inside a broad descending channel while daily RSI forms bullish divergence, suggesting downside momentum may be weakening. Stochastics are oversold. *Note; the RSI looks weaker on the 4HR so this is time frame to watch for the RSI to confirm divergence. I expect that it may not hold. If we reclaim the current resistance as support, close above the red channel mid-line and the RSI crosses its average, a small-long position could be taken. If price moves lower first, I am watching: $132.63: small gap-fill support $127.65: stronger daily support with lower-channel confluence (I like this a lot). Upside targets would be the upper channel boundary, followed by the 100/200 SMA area and Volume Profile POC. A break through that resistance cluster could develop into a larger channel breakout. The recent gap down was filled, but price has since moved sideways, so another move into support remains possible. This is a conditional setup: either wait for the trendline support flip or watch for a reaction from the lower entry zones. Educational analysis only—not financial advice.