PGCO34 trade ideas
PMI is Down: Long Defensive, Short Consumer DiscretionaryOf the 18 manufacturing industries, six are reporting growth in August in the following order: Printing & Related Support Activities; Nonmetallic Mineral Products; Computer & Electronic Products; Miscellaneous Manufacturing; Food, Beverage & Tobacco Products; and Chemical Products. The 11 industries reporting contraction in August — listed in order — are: Electrical Equipment, Appliances & Components; Apparel, Leather & Allied Products; Plastics & Rubber Products; Furniture & Related Products; Transportation Equipment; Machinery; Textile Mills; Paper Products; Petroleum & Coal Products; Primary Metals; and Fabricated Metal Products. - Institute of Supply Management.
3 Month Breakout PurchaseLooking to enter $PG as it continues to breakout on 3 month price highs. It has been a solid company in a sustained up trend on many time frames.
Descending Wedge Pattern / Patrón de Cuña DescendenteEl día 16/07/2015 el precio de PG comenzó a formar un patrón de cuña descendente el cual se encuentra en desarrollo hasta el día de hoy. Decimos que es "descendente" puesto que el precio venía de una tendencia bajista. Velas de 1 día.
P&G: Green lights for a Breakout-Upmove?The trend is our friend? Let`s see, if the yesterdays Breakout is the starting Signal for a new buying-wave. TP could be 90$! If you like it - like it!
P&G - Constant dividends and earnings.P&G always gives constant dividens and almost same earnings. We will have over than 0.75$ earnings with 0.66$ dividend per stock. This week is good time to buy if you dont have any.
In long term this stock will give more than we expected. Market is dynamic so we are!
PG monthly TAThe major bullish trend is still in effect. The final downward leg has been rejected by L.5 fan line, which I think will be revisited. So that means the bears still have a lot to do. Though, I will not be on the short side until I see a bearish crossover in Stoch unless there's a must-sell signal in a lower time frame.
Procter & Gamble heading towards new highLast week while the world was coming to an end, PG held its head above the water. We see that as a bullish sign. So we took a look at the chart and PG still sports a compelling story using the Elliott Wave Principle. First it appears the decline from 94 was only 3 waves down a counter trend move while the current advance from recent low @ 65 sure looks impulsive.
Thus, regardless if current advance is the real beginning of the next major rally of only part of more complex corrective move ( bullish triangle ? ) before that rally emerges, for now on and as long 65 holds we are bullish PG
For the very short term I would expect a bit more weakness towards 71-73 as the small correction ( wave ( 2 ) ) seem to be short in time. Earning report is due on Tuesday and that might generate some sparks.
PGDouble Top pattern for the short period.
In case of rebound at support line, it's a sideway period.
For the long position, it should be start after, bar go above resistance line.
DOW JONES OVERVIEW: PG AT MACRO UNCERTAINTY, SHORT TERM RISKProcter & Gamble is in uncertain situation on macro basis.
On long term basis price is trading between 10-year and 5-year means. Price close to macro means is actually an outlier, an indication of uncertainty of major market participants and investors regarding the stock.
On short term basis price is currently on downward risk, as it trades below the 1st standard deviation form 1-year mean @ 75.3 - indicating a downtrend on yearly basis.
It's No Gamble: A Major Top In Procter & GambleAlthough Procter & Gamble delivered quarterly profit that topped expectations on Thursday, it marked the sixth-straight drop in sales. Revenue of $17.79 billion was below forecasts and lower than last year's $20.16 billion, as P&G continued to be weighed down by a stronger dollar that stripped the value of overseas sales. More pressure is yet to come as the Fed prepares its rate hike.
From a technical perspective, the Head&Shoulders pattern is almost complete. The price has broken down below the former trendline support. On Wednesday we saw a retest of that line - and the move lower. According to the Elliott Wave Principle, the usual minimum target for the unfolding correction is the extreme of wave (a) of Triangle. In this case, we expect a more severe correction below $67.29.
Update on PGPG just keep unfolding as expected. Sure wish it would always be that clear. Actually it is very rare that a stock shows that nice of a pattern.
Anyway we are in a corrective rally and the only thing I am confident about is it is not over yet. Even if the rally of past couple of weeks stopped right at the apex of a contracting triangle ( wave iv ) a common occurrence, it is too short in time in relation to the first leg down to be over.
The rally appears to be a symmetrical double ZigZag opening the door for wave 2 will take the shape of an expanded flat i.e. PG would drop back down to 81 if not all the way to 79 before pushing higher towards 87.
I just don't know
PG revisitedEven if I am still somewhat bearish on the overall equity market, I have to move to neutral on PG as it has reached minimum expectation. It is hard to say if the last wave of the decline from all time high is over. Much more a matter of opinion thus I am taking my chips off the table on PG. If bears are not done pounding the stock, ideal target is around 77-78 and then next one is the extreme low of the triangle at 74.
Moving back above 84 will suggest the corrective rally is underway. Stay tuned.
PGUpdated. AB=CD 1.618 ext hit. Price went on to trace out a Bear Pennant which confirmed on Friday. Crab retrace target is 72.77 / Pennant tgt just above that.
Working an extended 3 Drives lowerDividend yield has already moved from 2.76% to over 3.10%, would be 3.3% at July 2014 low
