Solid News

Procter & Gamble Co. Market Update

8/2/2022 4:52 PM

Last week, Procter & Gamble Co. had ambiguous dynamics. First, the price rose to the area of ​​148.60 amid a possible slowdown in the rate hike by the US Federal Reserve and reduced pressure on the economy, but after the release of ambiguous quarterly financial statements on Friday, the company was followed by a sharp decline in quotations.

The corporation reported sales of 19.52B dollars, up 3%, beating experts' forecasts of 19.40B dollars. Earnings per share rose 7% to 1.21 dollars but fell short of 1.22 dollars per share.

Traders were upset by Procter & Gamble Co. management's forecasts for the next fiscal year: EPS is expected to be 5.93 dollars instead of 6.02 dollars as previously thought, and sales growth in 2023 will reach 3–5%, down from 7% this year. The damage to the company from rising transportation costs, inflation, and reduced consumer spending has already been estimated at 3.3B dollars and may continue to increase.


The price tries to recover some of the positions lost earlier and is approaching 143.75 (Murrey [3/8]), supported by the middle line of Bollinger bands. Consolidation above it allows growth to 150.00 (Murrey [4/8], the upper limit of the downwards channel). The key "bearish" level is 137.50 (Murrey [2/8]), which breakdown allows a decline to 131.25 (Murrey [1/8]), 125.00 (Murrey [0/8]).

Technical indicators do not give a single signal: Bollinger bands are horizontal, Stochastic is directed downwards, the MACD histogram is near the zero line, and its volumes are insignificant.

Resistance levels: 143.75, 150.00, 156.25. | Support levels: 137.50, 131.25, 125.00.



Find Us
First Floor, First St Vincent Bank LTD Building James Street Kingstown St Vincent and the Grenadines
Call Us
+1 415 367 3742


Solid ECN Securities is an international brand formed and authorized in Saint Vincent and the Grenadines with the registration number 1390 LLC 2021 committed to offering the best possible trading experience. Disclosure: Please note that foreign exchange and other leveraged trading involve a significant risk of loss. It is not fit for all investors and you should make sure you realize the risks involved, seeking independent advice if necessary.
Solid ECN Securities and it affiliates don't accept applications from Indonesia, Egypt, Australia, Bonaire, Curaçao, East Timor, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, South Sudan and other restricted countries.
Copyright All Right Reserved 2022 SolidECN.com