New York, July 30th (TradersHuddle.com) - Shares of PepsiCo, Inc. (NYSE:PEP) are trading very close to calculated resistance at $65.79 with the current price action closing at just $64.89 placing the stock near levels that make it difficult to buy.

PepsiCo, Inc. (NYSE:PEP) operates worldwide beverage, snack and food businesses. The Company manufacture or uses contract manufacturers, market and sell a variety of grain-based snacks, carbonated and non-carbonated beverages. Some of the products offered are Cheetos, Tostitos tortilla chips, Ruffles potato chips, SunChips multigrain snacks. The beverages unit sells beverage concentrates, fountain syrups, and finished goods under the Pepsi, Mountain Dew, Gatorade, 7UP, and Sierra Mist names among others.

PepsiCo's current stock range is defined by current calculated support defined at $60.32 and by the resistance level at $65.79, the stock is clearly over-extended from support, making it difficult to establishing new long positions at this level.

Traders don't have a clear entry point for PepsiCo, as the stock is well above support, however, as the stock pulls back towards $60.32 it will definitely provide a reference point to establish a trade. On the other hand if the stock decides to break above resistance level at $65.79 then traders will get an opportunity to enter PepsiCo stock by establishing a position as the stock moves to a higher range.