THE PROCTER & GAMBLE CO.: MURREY ANALYSIS

Current trend

Shares of The Procter & Gamble Co., one of the leaders in the consumer goods market, resumed growth at the end of last year as part of a long-term upward trend. During this time, the price reversed upwards from 143.75 (Murrey level [2/8]) and entered the positive part of Murrey’s trading range. Now the quotes are testing their upper limit at 162.50 (Murrey level [8/8]), consolidation above which will allow them to reach the reversal zone of 165.62 (Murrey level [ 1/8]) and 168.75 (Murrey level [ 2/8]). If the asset consolidates below the key “bearish” level of 156.25 (Murrey level [6/8]), a decline to the area of 150.00 (Murrey level [4/8]) and 146.88 (Murrey level [3/8], the lower border of the ascending channel) is expected.

Technical indicators confirm the upward trend development: Bollinger Bands reversed upwards, and the MACD histogram stabilized in the positive zone. However, a downward reversal of Stochastic does not exclude a limited correction.

Support and resistance

Resistance levels: 162.50, 165.62, 168.75.

Support levels: 156.25, 150.00, 146.88.

Trading tips

Long positions may be opened above 162.50, with the targets at 165.62, 168.75, and stop loss 160.20. Implementation time: 5–7 days.

Short positions may be opened below 156.25, with the targets at 150.00, 146.88, and stop loss 158.50.