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The Procter & Gamble Co. Expects Continued Buying Activity

2/22/2023 2:41 PM

Stocks of one of the leaders in the world market of consumer goods The Procter & Gamble Co. are in a corrective trend and are trading at 140.00.

The period of a local storm continues in the US grocery market. Manufacturers raise prices for their products against the backdrop of high inflation, and retailers, in protest, limit the volume of purchases. The Procter & Gamble Co. are among the companies that have raised their prices, but brand awareness prevents retailers from reducing purchases, as demand for products is still very high. According to management, over the next quarters, the American consumer will be confident in the market, and the company still has room for a slight correction in prices, which will not negatively affect demand.

As for the financial condition of the issuer, it is quite stable. Thus, revenue for the recent quarter was recorded at 20.8B dollars, up from 20.61B dollars a quarter earlier, and earnings per share were 1.59 dollars, up from the previous figure of 1.57 dollars.

Also on February 15, the payment of the next quarterly dividends took place: on ordinary securities and on preferred shares of series A and series B ESOP, it reached 0.9133 dollars, which amounted to 2.5% of income. This was the last dividend payment for the 2022 financial year, and the next one is possible already taking into account the annual indexation, which the company has been conducting for 66 years.

On the daily chart, quotes continue to trade in the global corrective trend, forming a local downward correction.

Technical indicators still hold a sell signal, which remains quite stable: fast EMAs on the alligator indicator are moving away from the signal line, and the AO histogram is kept in the sell zone, forming corrective bars.

Support levels: 136.20, 130.00. | Resistance levels: 143.00, 150.00.

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