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The Procter & Gamble Co., Technical Analysis

12/23/2022 10:03 AM

Shares of The Procter & Gamble Co., one of the leaders in the global consumer goods market, are correcting at 152.00.

On the daily chart, the price is moving above the resistance line of the global downward corridor with dynamic boundaries 143.00–110.00 and, after a sharp increase, was able to consolidate above the 61.8% Fibonacci full retracement level around 149.00.

On the four-hour chart, it can be seen that finding quotes above 61.8% means that the correction has entered the stage of a full-fledged trend, which is a signal for an early continuation of growth and possible consolidation of the asset above the local high of 154.00.

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

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