Shares of The Procter & Gamble Co., one of the leaders in the global consumer goods market, are trading in a corrective trend at 152.00.
On the daily chart, the price moves within the global uptrend, forming a local side corridor of 149.00–154.00, and after reaching the resistance line, the quotes begin to reverse.
On a four-hour chart, the current local corridor can be realized as a Head and shoulders pattern, and if the price overcomes the Neckline at 149.00, it may fall to 143.00. Otherwise, the global growth will continue until reaching 158.00.
Technical indicators keep a buy signal, narrowing within the local correction: fast EMAs on the Alligator indicator are approaching the signal line, and the AO oscillator histogram is forming corrective bars, approaching the transition level.