The Procter&Gamble Co. (PG/NYSE): general analysis
21 August 2018, 12:01
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY STOP |
| Entry Point | 84.10 |
| Take Profit | 85.00, 86.00, 86.50 |
| Stop Loss | 83.00 |
| Key Levels | 80.00, 81.00, 82.75, 84.00, 86.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 82.70 |
| Take Profit | 81.00, 80.00 |
| Stop Loss | 83.75 |
| Key Levels | 80.00, 81.00, 82.75, 84.00, 86.00 |
Current trend
The Procter&Gamble stocks trade near a 6-month high. After the publication of a strong quarterly report in late July, the price increased by 3.42%. Net income per share increased by 11% YoY to $0.94, exceeding market expectations. In addition, the company raised the forecast for the financial year 2019.
During the last week, The Procter&Gamble grew by 2.60% against the growth of the S&P 500 index by 0.63%.
Support and resistance
The price continues to grow. At the moment, the instrument is testing the local resistance level of 84.00. The level of 82.75 is a "mirror" support. There is potential for further growth. Indicators reflect the strength of buyers: the price was fixed above MA (50) and MA (200); MACD is in the positive zone. However, it is better to open the positions from the key levels.
The comparative analysis of the indicators of the company and its competitors suggests that the shares are underpriced.
Resistance levels: 84.00, 86.00.
Support levels: 82.75, 81.00, 80.00.
Trading tips
Long positions can be opened after the price is set above the level of 84.00. The closing of the profitable positions is possible at the levels of 85.00, 86.00 and 86.50. Stop loss is 83.00.
Short positions can be opened after the price is set below the level of 82.75 with the targets at 81.00–80.00. Stop loss is 83.75.
Implementation period: 3 days.
The Procter&Gamble stocks trade near a 6-month high. After the publication of a strong quarterly report in late July, the price increased by 3.42%. Net income per share increased by 11% YoY to $0.94, exceeding market expectations. In addition, the company raised the forecast for the financial year 2019.
During the last week, The Procter&Gamble grew by 2.60% against the growth of the S&P 500 index by 0.63%.
Support and resistance
The price continues to grow. At the moment, the instrument is testing the local resistance level of 84.00. The level of 82.75 is a "mirror" support. There is potential for further growth. Indicators reflect the strength of buyers: the price was fixed above MA (50) and MA (200); MACD is in the positive zone. However, it is better to open the positions from the key levels.
The comparative analysis of the indicators of the company and its competitors suggests that the shares are underpriced.
Resistance levels: 84.00, 86.00.
Support levels: 82.75, 81.00, 80.00.
Trading tips
Long positions can be opened after the price is set above the level of 84.00. The closing of the profitable positions is possible at the levels of 85.00, 86.00 and 86.50. Stop loss is 83.00.
Short positions can be opened after the price is set below the level of 82.75 with the targets at 81.00–80.00. Stop loss is 83.75.
Implementation period: 3 days.
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