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The Procter & Gamble Co. Murrey Analysis

3/20/2023 3:19 PM

The shares of The Procter & Gamble Co., one of the leaders in the global consumer goods market, are moving sideways in the 137.50–143.75 range (Murrey levels [4/8] and [6/8]) for the second month in a row. During this time, the price has repeatedly tested its lower limit, trying to move into the negative part of Murrey's trading range. Currently, the quotes are close to the pivot level of 143.75, consolidation above which will give the prospect of further growth to 146.88 (Murrey level [7/8]) and 150.00 (Murrey level [8/8]).

Technical indicators are signaling growth: Bollinger bands are reversing upwards, and the MACD histogram is preparing to move into the positive zone and form a buy signal. Stochastic has entered the overbought zone, which does not exclude a downward reversal and a price rollback to the middle line of Bollinger bands around 139.50 but is unlikely to lead to a change in trend.

Resistance levels: 143.75, 146.88, 150.00. | Support levels: 139.50, 137.50, 134.38.

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