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Procter & Gamble Co., Murray Analysis

8/17/2022 4:02 PM

At the end of last month, the quotes of Procter & Gamble Co. reversed upwards near the level of 137.50 ([6/8]) and have been growing continuously since then.

Currently, the price is trying to leave the framework of the medium-term descending channel, breaking through its upper limit and the entire Murray trading range. With consolidation above the level of 150.00 (Murray [8/8]), the upward dynamics will continue to the levels of 156.25 (Murray [+1/8]), 162.50 (Murray [+2/8]). The key for the "bears" is the level of 143.75 (Murray [5/8]), supported by the middle line of the Bollinger Bands, a breakdown of which will give the prospect of a return of quotes to the levels of 137.50 (Murray [6/8]) and 131.25 (Murray [5/8]).

Technical indicators allow for continued growth: the Bollinger Bands and the Stochastic are reversing upwards, and the MACD histogram is increasing in the positive zone.

Resistance levels: 150.00, 156.25, 162.50. | Support levels: 143.75, 137.50, 131.25.

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