PG is under observation for a near-term breakout; if confirmed by closing above today's high, pullbacks to the trend line are buy targets.
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The following chart is on the list, guys, put it on your watchlist. P&G, Procter & Gamble, has officially come under observation for a potential price breakout. A beautiful daily candle today, with a rise of 1.91%.
Notice this last week, as Tuesday, Wednesday and Thursday all tried to break above this descending trend line , but encountered resistance each time. We did see the price move above it , but the price eventually came back down to just below it.
We are now witnessing a breakout, so be careful tomorrow with P&G to see if we close above the high we reached today.
If that happens, any pullbacks towards this trend line will be buying opportunities to push the price up to 153.06. This is the Fibonacci level and pivotal resistance in the near term, but the medium-term target will be the upper range of this parallel descending channel at approximately $157.
But put P&G on your watchlist for a near-term breakout.
Watchpoints
What this channel has said about $PG
Verified Investing has only this one call on this stock.