PEP: Post-Earnings Rally Could Send Shares to $158PepsiCo, Inc.BATS:PEPtimothysmith78Pepsi (PEP) shares eased slightly ahead of Thursday's opening bell after the beverage maker posted mixed second quarter results as healthy sales in its international snacks and drinks business helped offset weaker demand across its North American divisions. Taking a closer look at Pepsi's chart, the price trended lower between February and June before buyers stepped in to defend a crucial horizontal trendline around $137. Although the 50 MA has recently crossed below the 200 MA to form a "death cross," this technical signal lags recent price action, which has turned more bullish leading into today's earnings report. If the shares turn higher from here, keep a close eye on the $158 level. Traders who position for a post-earnings pop may look to take profits near last year's prominent September swing high, which also closely aligns with an area of consolidation on the chart throughout April and May this year.