The Procter&Gamble Co. (PG/NYSE): general review

Current trend

Procter&Gamble shares are trading at a 2% discount to a 52-week high of September 3, gaining ground since the start of last week. Over the past three months, the issuer's quotes have added more than 18.5%. For fiscal 2021, the company predicts organic sales will grow 2–4%, with profits increasing 3–7%. Also, the share of Procter&Gamble brands is expected to grow in high-growth markets.

Over the past week, The Procter&Gamble shares rose by 1.98%. Over the same period, the S&P 500 rose by 2.11%.

Support and resistance

Quotes have stabilized after a long rally. At the moment, the issuer is consolidating. The price is testing local support and resistance levels at 135.00 and 141.00, respectively. In the near future, a technical correction of the trading instrument is not ruled out. The indicators do not give precise signals: the price is testing MA (50); the MACD histogram is near the zero line. It is better to open the positions from the key levels.

Comparative analysis of multiples of the company and competitors in the industry shows the neutrality of #PG.

Resistance levels: 141.00.

Support levels: 135.00, 130.50, 128.00.

Trading tips

Long positions may be opened after the price consolidates above the level of 141.00. The closing of the profitable positions is possible at the levels 147.00, 152.00 and 158.00. Stop loss – 135.00.

Short positions may be opened after the price consolidates below 135.00 with the targets at 126.00–120.00. Stop loss – 141.00.

Implementation period: 3 days.