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The Procter & Gamble Co., Technical Analysis

11/29/2022 10:37 AM

Shares of The Procter & Gamble Co., one of the leaders in the global consumer goods market, are moving within a corrective trend at 146.00.

On the daily chart, the price is holding above the resistance line of the global downward corridor with dynamic boundaries of 140.00–110.00, preparing to continue rising after the end of the reverse test.

On the four-hour timeframe, the upward dynamics have high prospects for continuation since the quotes have almost reached the local high of the previous upward wave of August 19 at 150.00, after consolidation above which, the movement will receive a new impetus. In case of downward dynamics, traders should focus on the support level around 135.00, which has acted as an obstacle for the price more than once.

Technical indicators reinforce the current 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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