$PEP continues to pull back and is on a strong course with the 0.618 Fib at $137, significantly below its 200 WMA at $168 too.
With a dividend of 3.8% this is a very attractive safe haven at this level and it is a genuine coin toss between $PEP and $KO right now, at $137 here or at $60 for $KO....both companies are equally as strong as each other.
Wait for support to be confirmed at $137 and then consider a position.