PROCTER & GAMBLE Low risk buy opportunity on the Channel bottom.Procter and Gamble (PG) has been trading within a 10-month Channel Up (since December 15 2023) and on September 10 2024 priced the latest Higher High and got rejected. Even though it has broken below its 1D MA50 (blue trend-line), yesterday it tested and held the short-term Support 1 level, which is intact since August 14.
The 1D MA200 (orange trend-line) has been the absolute Support of this pattern, having formed just above it both the Higher Lows of July 30 and April 19. Yesterday's Low isn't as close to the 1D MA200 as those two but it is close enough to constitute a low risk buy for the medium-term, even though we might see a little more decline towards the Channel's bottom. Notice however the 1D RSI that made a clear rebound inside its 10-month Buy Zone.
As a result, we turn bullish on this stock and as with the last Higher High, we are again targeting the 1.5 Fibonacci extension level at 182.00.
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Procterandgamble
PROCTER & GAMBLE is bullish bouncing on the 1D MA50.Procter and Gamble (PG) closed yesterday on a 3-day red streak and the 1D candle almost touched the 1D MA50 (blue trend-line), the short-term Support, which is intact since August 14. The stock has been trading within a Channel Up pattern since the December 15 2023 Low, which is inside a wider Channel Up pattern since the 2022 market bottom.
The 1D MA50 is the first Support level of the 9-month Channel Up, with the 1D MA200 (orange trend-line) being the second (and last). The Higher Lows are priced below the 1D MA50 but currently we haven't completed most likely the Bullish Leg at hand.
Last April the price pulled back to the 0.382 Fib, which held and provided the final push to the -0.236 Fib extension for a Higher High. Currently the 1D MA50 test is also testing the 0.382. If it holds, we expect the stock to peak again near the -0.236 Fib extension. As long as it holds then, we remain bullish, targeting 182.00.
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PG potential Buy setupReasons for bullish bias:
- Ascending triangle breakout on weekly
- Bounce from strong support that was previous long-time weekly resistance
- Positive Earnings
- Buy Stop order at HH breakout for further confirmation
- DOW theory Alignment
Here are the recommended trading levels:
Entry Level(Buy Stop): 162.19
Stop Loss Level: 152.98
Take Profit Level 1: 171.4
Take Profit Level 2: Open
PG The Procter & Gamble Company Options Ahead of EarningsIf you haven`t bought PG before the previous earnings:
Then analyzing the options chain and the chart patterns of PG The Procter & Gamble prior to the earnings report this week,
I would consider purchasing the 155usd strike price Calls with
an expiration date of 2024-9-20,
for a premium of approximately $8.85.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Box Store Giants: Macro Fib SchematicsWalmart, Costco, Target, CVS, Home Depot, and Walgreens are the largest box store giants in the market. Proctor and Gamble along with Nike are in here because they are both also mega corporations and since P&G has so many products in these stores. Nike is also a staple in these stores but Proctor and Gamble especially belongs here.
These Fibonacci Schematics are extremely clean and probably the best looking structure I have ever seen. This is an excellent example of market mechanics working through Fib Schematics.
If we were to talk about what we see here 2/27/24 then we see....
- Walmart at a couple resistances.
- P&G launching off massive Fib Cluster support.
- Costco testing the waters above and getting ready to jump into next levels.
- Home Depot testing its midpoint from its high with a massive front run from the Thick Orange Fib Line after the actual rejection at the high. This means we are set to launch through the high at 420.
- Target barely rejected the high (FRONTRUN) and found reasonable support on the same supports it FRONTRAN. Target is poised to go crazy high.
- Nike looks like it can do anything.
- CVS also looks like it can do anything but looks more bearish tbh.
PG The Procter & Gamble Company Options Ahead of EarningsIf you haven`t bought PG here:
Then analyzing the options chain and the chart patterns of PG The Procter & Gamble Company prior to the earnings report this week,
I would consider purchasing the 150usd strike price Calls with
an expiration date of 2023-12-15,
for a premium of approximately $2.84.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
PROCTER & GAMBLE This Bearish Cross is essentially a buy signalPG formed today a 1day MA50-100 Bearish Cross.
Primarily a sell signal, the last 3 occurences of this pattern have delivered higher prices.
All those patterns hit at least their prior Resistance level.
Additionally, the 1day MACD is 4 days into a Bullish Cross.
Buy and target 158.00 (Resistance).
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PROCTER & GAMBLE Great medium term investment.PG is having a strong red (1d) candle that crossed again under the 0.618 Fibonacci level.
In the last 10 months, the stock has been trading inside a Rectangle with the price being on the last step (0.786 Fibonacci) before the pattern's bottom.
The price is already a solid medium term buy but depending on the MACD, it may provide an even better opportunity.
Trading Plan:
1. Buy when the MACD (1d) makes a Buy Cross.
Targets:
1. 158.00 (top of the Rectangle).
Tips:
1. Last rebound was made on a single bottom candle (May 31st) without any retest. Today's pull back seems more like January with multiple tests, indicating that the probability of one last low is a little higher.
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PROCTER & GAMBLE The 1D MACD gives the buy signal.Last time we looked into Procter & Gamble (PG) was December 2022 (see chart below) and called for a massive sell-off to $140:
As you can see that took place almost perfectly, with the price dropping even lower from $155 to $136. We hope you took advantage of this analysis and if you didn't short, at least got a comfortable buy entry as the price rebounded and reached $158.
The price is currently on a 2-month selling sequence after the August 10 rejection on Resistance 1 (158.45) and is approaching the bottom of the Channel Up. The horizontal Support (1) is at 142.00 and the 1W MA200 (red trend-line) marginally above 140.00 and rising. Technically Support 1 is the true Support level but under this pressure we can't rule out a 1W MA200 test to gather long-term buyers.
In any case, since almost 18 months, the buy signal with the lowest risk has been given when the 1D MACD forms a Bullish Cross. That is the buy entry confirmation for investors. Until then, the price can keep declining surrounded by negative fundamental market conditions. Take advantage of the MACD to get the most optimal position and target 158.45 (Resistance 1).
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PROCTER & GAMBLE: Starting a strong bullish leg.Procter & Gamble is off to a strong rebound on the 1D MA50 with the 1D timeframe backing it up on very healthy bullish technicals (RSI = 64.041, MACD = 0.370, ADX = 25.513). With the 1D MACD just completing its 2nd Bullish Cross in more than a month, slightly over the 0.00 level, we will take this opportunity to buy and target the top of the longer term Channel Up (TP = 161.50).
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Procter & Gamble to close its gap?Procter and Gamble Co - 30d expiry - We look to Buy at 149.61 (stop at 146.11)
The primary trend remains bullish.
This stock has seen good sales growth.
This is currently an actively traded stock.
We have a Gap open on 21/4/2023 from 150.85 to 154.94.
A higher correction is expected.
Previous support is located at 149.50.
We look to buy dips.
50 4-hour EMA is at 147.98.
Our profit targets will be 158.61 and 159.61
Resistance: 156.50 / 158.11 / 160.00
Support: 154.50 / 152.00 / 149.50
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
Procter and Gamble to extend losses from corrective channel?Procter and Gamble Co - 30d expiry - We look to Sell a break of 135.66 (stop at 139.66)
Trading within a Corrective Channel formation.
There is no clear indication that the downward move is coming to an end.
Daily signals are bearish.
135.83 has been pivotal.
A break of the recent low at 135.83 should result in a further move lower.
Our outlook is bearish.
The bias is to break to the downside.
Our profit targets will be 125.66 and 123.66
Resistance: 139.50 / 141.60 / 144.10
Support: 137.00 / 135.83 / 133.00
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
PROCTER & GAMBLE Rejection approaching. Expect ~$140.Procter & Gamble (PG) has been on a relentless +23% 2-month rally (since October 10), breaking above all possible MA levels: the 1D MA50 (blue trend-line), the 1D MA100 (green trend-line) and the 1D MA200 (orange trend-line). Today it even broke above the August 16 High, the technical Resistance, making the first Higher High after breaking above the 2022 Falling Wedge pattern.
However despite the bullishness and us being long-term buyers on PG, we see the price approaching a level, which based on previous similar patterns, provided a sizeable medium-term pull-back.
That is the RSI on the 1W time-frame which has entered a Zone (red) that since December 2015 makes the price drop to (just below) its 0.382 Fibonacci retracement level. In January 2016, it found support on the 1D MA100, in October 2018 just below the 1D MA100 and 1D MA200 and in May 2020 some way below the 1D MA50.
At the moment the lowest MA is the MA50 but until the pull-back takes the stock lower, we expect the MA100 to be lower and quite possibly on or a little below the 0.382 Fibonacci, assuming this rally gets exhausted a little higher e.g. 153.00. This translates into a 0.382 Fib at 141.20, which makes $140 a fair pull-back price to buy for the next long-term wave to test the 165.40 All Time High Resistance.
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Procter and Gamble reversing. PGPrequalify for exit on A Wave impulse. Super early fib levels for entry, yet not oversold anymore. One attempt at trying to crack the origin of 5th Wave of A. Momentum upgoing here and on the major indices. Volatility flipped on the four hourly.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
Bullish on Procter & Gamble. PGA very nice impulse is underway on this stock. This one appears to be multilayered, so we may come back to this again and again for further long positions in the future. Large cap stock so not super volatile, but an opportunity is an opportunity.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in green with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!