Procter & Gamble consolidating ahead of the earnings releaseThe shares of Procter & Gamble Company (Symbol ‘PG’) has increased its share value by about 15% in the last quarter of the year. Procter & Gamble Company is expected to report its earnings for the quarter ending December 2022 on Thursday 19th of January before the market opens. The consensus EPS is $1,57 compared to the result for the same quarter last year of $1,66.
‘It is worth mentioning that P&G has a PEG ratio of 4.31. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. P&G's industry had an average PEG ratio of 4.1 as of yesterday's close.’ said Antreas Themistokleous, market analyst in Exness.
On the technical side the price has been trading in a very strong bullish movement in the last quarter with price finding resistance on the upper band of the Bollinger bands. Currently the price is trading around the $150 area and the lower band of the Bollinger bands which might act as a support.
The Stochastic indicator is heading to the oversold levels and in combination with the technical support levels mentioned it could support the price in the short term. If the price makes a valid break below the $150 level we might expect the next point of support laying around the $147 area which consists of the 23.6% of the Fibonacci retracement level and also the 50 day moving average.