Shares of The Procter & Gamble Co., one of the leaders in the global consumer goods market, have risen for the third month in a row.
After reversing around 121.88 ([–1/8]), the price returned to the main Murrey trading range, passed it, and tested 153.12 ([+1/8]) this week, consolidation above which will give the prospect of continuing positive dynamics to 156.25 ([+2/8]) and 162.50 ([6/8], for W1). The key “bearish” level is 150.00 ([8/8]) at the upper border of the main trading range, upon the breakdown of which and the middle line of Bollinger bands (148.25), the decline will resume to 143.75 ([6/8]) and 140.62 ([5/8]).
Technical indicators point to the continuation of the uptrend: Bollinger bands are reversing upwards, and MACD is stabilizing in the positive zone. However, the exit of Stochastic from the overbought zone does not exclude the development of a downward correction.
Resistance levels: 153.12, 156.25, 162.50. | Support levels: 150.00, 143.75, 140.62.