PGD trade ideas
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.
Oil Lumber Coffee9. 14. 22 what is really profitable about these markets is that they hit a target with a good profit, and if you get out they move down to the breakout area where they went higher initially, in the market gives you another chance to make almost the same amount of money as the original trait. If you're thinking is that a market that reverses and goes higher, and then turn starts to go lower and is therefore going to make new lows.... you'll never take the tray it counts. 1 corollary to this is that if you never got in the market the first time around, then you can get into the market when it comes back to a lower price and a support. Even though this sounds obvious, if a market goes higher and then reverses to go, this does not mean that it's a bearish market, it's just a correction. The better question is how do you know which one it is? The answer is :Look for buyers! It sounds easy, but it took me a long time in my own Quest before I believe it. It's obvious, but it wasn't easy.
PG: Can we breakout?Procter and Gamble Co -
Short Term - We look to Buy a break of 148.20 (stop at 142.08)
The trend of higher lows is located at 138.75. This is positive for sentiment and the uptrend has potential to return. We are trading within a Bullish Ascending Triangle formation. A clear break of 148.00 and we would look for further gains to 163.00.
Our profit targets will be 162.98 and 172.00
Resistance: 163.00 / 172.00 / 180.00
Support: 140.00 / 130.00 / 120.00
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PG's Important ZoneGood morning / afternoon / evening.
Decided to do a short term view on one of my favorite stocks out there.
After a miss Earnings and reached Revenue PG fell Below weekly support indicating that the price can be seeing lower levels in August.
129.4 - 135.06 zone is gonna be playing a essential technical levels for PG's share.
A very brief breakout can happen if price confirms 129.4 below, My opinion on this would be; waiting for a confirming levels to start DCA-ing PG.
I will update this post again, If you are interested you can follow me on it.
Cheers.
Disclaimer .
Do NOT trade or invest based upon the analysis presented on this channel. Always do your own research and due diligence before investing or trading. I’ll never tell you what to do with your capital, trades or investments. I’ll also never recommend for you to buy, sell, long or short any asset, commodity, security, derivative or cryptocurrency related instrument as it's extremely HIGH RISK! You should always consult with a professional/licensed financial adviser before trading or investing in any type of assets.
Waiting for a double minimumHey thanks for this drop, I needed cheap prices to increase my fund. It perfectly recognizes the Fibonacci levels from the low of the covid to the recent highs. It would be interesting to enter a double bottom near the base of the uptrend channel. An update will be released in the coming weeks. Let's wait.
Procter & Gamble ( PG )
Procter & Gamble fell sharply two months ago. Now, after a rebound, it could be struggling. The first pattern on today’s chart is the big drop on May 18 after Target’s ( TGT ) weak quarterly report hammered retailers. PG rebounded toward $149 before making a new 52-week low under $130. It then retraced most – but not all – of the drop. The result was a slightly lower high below the late-May pivot .
Next, the stock hit resistance at its falling 50-day simple moving average ( SMA ). Notice the candlesticks with high tails July 6-13, showing an inability to close above the SMA . It’s also back below its 21-day exponential moving average ( EMA ), another sign of a downtrend.
Third, stochastics are dropping from an overbought status.
Short Term - Sell at 144.80 ish (stop at 147.50)
Targets: 140ish&137ish
Resistance: 147.82/152.25/156.81
Support: 139/136.45/131.85
NYSE:PG
Procter & Gamble Could Be StrugglingProcter & Gamble (PG) fell sharply two months ago. Now, after a rebound, it could be struggling.
The first pattern on today’s chart is the big drop on May 18 after Target’s (TGT) weak quarterly report hammered retailers. PG rebounded toward $149 before making a new 52-week low under $130. It then retraced most – but not all – of the drop. The result was a slightly lower high below the late-May pivot.
Next, the stock hit resistance at its falling 50-day simple moving average (SMA). Notice the candlesticks with high tails July 6-13, showing an inability to close above the SMA. It’s also back below its 21-day exponential moving average (EMA), another sign of a downtrend.
Third, stochastics are dropping from an overbought status.
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