THE PROCTER & GAMBLE CO.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 161.50 |
| Take Profit | 167.00 |
| Stop Loss | 159.00 |
| Key Levels | 142.00, 152.00, 159.00, 160.00, 161.00, 167.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 159.00 |
| Take Profit | 152.00 |
| Stop Loss | 161.00 |
| Key Levels | 142.00, 152.00, 159.00, 160.00, 161.00, 167.00 |
Shares of The Procter & Gamble Co., one of the leaders in the consumer goods market, are trading in a corrective trend at 160.00.
On the daily chart, the price is trying to leave the global sideways corridor of 142.00–159.00.
On the four-hour chart, a new wave of growth may continue, as the quotes have consolidated above the local high of 159.00, coinciding with the channel resistance line, after which, the price will reach 167.00, and otherwise, a return to the global channel and a decline to the support level of 152.00 is possible.
Technical indicators strengthen the buy signal: fast EMAs on the Alligator indicator move away from the signal line, expanding the range of fluctuations, and the AO histogram forms ascending bars, rising in the buy zone.
Trading tips
Long positions may be opened after the price rises and consolidates above 161.50 with the target at 167.00. Stop loss – 159.00. Implementation period: 7 days or more.
Short positions may be opened after the price declines and consolidates below 159.00 with the target at 152.00. Stop loss – 161.00.
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