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The Procter & Gamble Co., Murrey Analysis

11/18/2022 2:45 PM

Shares of The Procter & Gamble Co., one of the leaders in the global consumer goods market, have risen for the second month in a row. After a reversal around 121.88 ([–1/8]), the price returned to the main trading range, moved into its positive part and approached the pivot level 143.75 ([6/8]), the breakout of which will give the prospect of a further increase to 146.88 ([ 7/8]), 150.00 ([8/8]).

Technical indicators confirm the continuation of the upward trend: Bollinger bands are reversing upwards, MACD is increasing in the positive zone. Exit of Stochastic from the overbought zone gives the possibility of a downward correction to the central mark of Murrey's trading range 137.50 ([4/8]) but it is unlikely to lead to a break in the current trend.

Resistance levels: 143.75, 146.88, 150.00. | Support levels: 140.62, 137.50, 134.38.

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