Shares of The Procter & Gamble Co., one of the leaders in the global consumer goods market, are in a corrective trend at 141.00.
On the daily chart, the price is holding within the global sideways range, forming a wide horizontal corridor with the boundaries of 120.00–155.00, within which it reached the resistance line and started to decline.
On a four-hour chart, the quotes have consolidated below the 38.2% Fibonacci underlying retracement at 142.30. The current negative dynamics result from the Head and shoulders reversal pattern working out with the target at 134.70, coinciding with the 61.8% Fibonacci full retracement level.
Technical indicators keep a global sell signal: fast EMAs on the Alligator indicator are moving away from the signal line, expanding the range of fluctuations, and the AO histogram is forming corrective bars, falling in the sell zone.