PG seems to be bottomingWhen we look at data from March 2021, the overall pattern seems to follow a cyclic pattern aligning with the green cycles. The smaller cycles in red are providing trend for the near term and price action seems to align with the smaller cycles as well for shorter time cycles.
For the pattern to continue, we can expect a basing phase around this time (this is also a 61.8% Fib level now) and soon expect to go up.
The latest ER was positive but investors were not happy with the decline in sales volume. Although it is a slowdown, when I look at it from a higher level it seems to be okay:
1. PG has raised prices and that has an effect in lower sales volume - As commodities and freight prices are coming down, the prices may come back down
2. PG stopped sales in Russia - This is not a company fault and is more broader
3. PG indicated a sales decline in China - As China continues to re-open, this will improve
I am still holding my position and waiting for a clear low to be established.
Disclaimer: My opinion on stocks are mine alone and not to be taken as Investment advice.