THE PROCTER & GAMBLE CO.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 166.00 |
| Take Profit | 170.30 |
| Stop Loss | 164.00 |
| Key Levels | 155.00, 157.00, 162.70, 163.00, 164.00, 169.00, 170.00, 170.30 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 162.70 |
| Take Profit | 157.40 |
| Stop Loss | 165.00 |
| Key Levels | 155.00, 157.00, 162.70, 163.00, 164.00, 169.00, 170.00, 170.30 |
Shares of The Procter & Gamble Co., one of the leaders in the consumer goods market, are trading at 164.00.
On the daily chart, the price is growing towards the resistance line of the ascending corridor with dynamic boundaries of 169.00–155.00.
On the four-hour chart, the quotes surpassed the yearly high of 163.00 and headed towards the channel resistance level of 170.00. In case of a reversal and decline, a return to 163.00 and the support level of 157.00 is possible.
Technical indicators hold a buy signal: fast EMA on the Alligator indicator are far from the signal line, and the AO histogram forms corrective bars in the buy zone.
Trading tips
Long positions may be opened after the price rises and consolidates above 166.00, with the target at 170.30. Stop loss – 164.00. Implementation period: 7 days or more.
Short positions may be opened after the price declines and consolidates below 162.70, with the target at 157.40. Stop loss – 165.00.
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