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The Procter & Gamble Co., Technical Analysis

11/10/2022 10:26 AM

The shares of The Procter & Gamble Co., one of the leaders in the global consumer goods market, are trading at 136.00.

On the daily chart, the asset is correcting within the global downward corridor with dynamic boundaries of 150.00–120.00, and after a reversal from the support line, a new upward wave is formed.

On the four-hour chart, it has already managed to break the 50.0% Fibonacci intermediate correction level at 136.40, signaling a high probability of continuation of the upward trend, however, the 61.8% Fibonacci full correction level at 139.70 may become a serious obstacle for the quotes.

Technical indicators reinforce the buy signal: fast EMAs on the Alligator indicator move away from the signal line, and the AO oscillator histogram forms upward bars in the buying zone.

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