Solid News

The Procter & Gamble Co., Technical Analysis

2/13/2023 10:00 AM

Shares of The Procter & Gamble Co., one of the leaders in the global consumer goods market, are in a corrective trend at 138.00.

On the daily chart, the price is moving within the global side corridor, forming a wide channel with boundaries of 120.00–155.00, and is currently falling toward the support line.

On the four-hour chart, it can be seen that the current local decline is a full-fledged correction, against which the quotes managed to consolidate below an intermediate correction of 50.0% Fibonacci around 139.00, and the next target is at a full correction of 61.8% Fibonacci around 134.60 is a priority. In the case of local growth, the key obstacle will be the 38.2% Fibonacci level at 142.30.

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.

Solid ECN Securities and it affiliates don't accept applications from Indonesia, Egypt, Australia, Bonaire, Curaçao, East Timor, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, South Sudan and other restricted countries.
Copyright All Right Reserved 2023