Current trend

Shares of The Procter & Gamble Co., one of the leaders in the global consumer goods market, have been rising for the third week in a row: during this time, the price reversed at 143.75 (Murrey level [2/8]) and broke into the positive part of Murrey’s trading range, consolidating above 150.00 (Murrey level [4/8]), and can continue the positive dynamics around 153.12 (Murrey level [5/8]) and 156.25 (Murrey level [6/8]). The key “bearish” level is 146.88 (Murrey level [3/8]), supported by the middle line of Bollinger Bands, after which breakdown, a decline to the area of 143.75 (Murrey level [2/8]) and 140.62 (Murrey level [1/ 8]).

Technical indicators reflect that the upward trend will continue: Bollinger Bands and Stochastic are turning upward, and the MACD histogram is increasing in the positive zone.

Support and resistance

Resistance levels: 153.12, 156.25.

Support levels: 146.88, 143.75, 140.62.

Trading tips

Long positions may be opened from 150.70 with the targets at 153.12, 156.25 and stop loss 149.15. Implementation time: 5–7 days.

Short positions may be opened below 146.88 with the targets at 143.75, 140.62 and stop loss 148.90.