$PG is a confusing tradeIt has been making higher high and lower low, but the divergence & volume is not favorable to the bulls. Let's see how this will play out in 2019.
PG trade ideas
PG is very strong in this collapseDow component and consumer staples giant PG has only falled 5.6% from the highs, compared to nearly 20% in the general market. It did not participate in the second of the three collapses in Q4. The price action from July-August can now be seen as the upper half of a pitchfork, and we are now at the lower half and right on the 50-day SMA. This is a gamble on Q4 being a correction not the start of a bear market, of course, hence my tight 1.5% stop.
$PG Swing Idea (Daily Chart)Buying Zone: $86 to $88
Stop Below: $84
Note: Only if matket makes bottom and reverses from there.
Attack of the Proctoids!This is another Great American company that has lost its way in the weeds of financial engineering. Apparently, that whole idea of selling off ‘mature’ (profitable) brands hasn’t translated into stock price appreciation. It also suffers from management by consensus. Bet the employees get to go to great Team Building camps. This company would outperform if it got back to its roots researching new consumer products, and developing (even acquiring) small brands into large profitable businesses.
This stock would make a good addition to one’s income producing side of one’s portfolio when it gets back down to around $26 in the next couple years. Probably could trade out your TLT’s for it at the stock market bottoms.
A corrective wave has formed to keep going upA corrective wave has formed to keep going up. OB cut
Weekly chart
RSI (14) near 70
Stoch (89) >90
The MACD rises obove the signal line
PG Continuing Break DownP&G is regressing as expected, $91.50 seems to be a reasonable support, a break below may trigger a quick plunge to $90.50.
I am very excited for my short position, I think this has another $10 to drop in 2019
Procter & Gamble - You look like Nvidia Market will be correlated fully to the downside once defensive names revert to their mean.
Proctor & Gamble opportunities Proctor & Gamble finally reached all time high, forming a nice shooting star on a daily chart. 1 hour chart shows RSI divergence. Could be a sign of reversal or pullback, possible to trade the break of the uptrend line.
on the edge - PG smoothing out on the 4h chart it looks we are on the edge of whether heading down fast or stay on the way up within the ascending triangle, at least until the end of next week - macd & stoch give no indication at all - bearish by instinct
Finally PG is overbought!The weekly chart says it all. PG is extremely overbought. It touched the 161.80% Fibonacci extension at 94.70. Weekly RSI has crossed 70 today and pulled back. Probably it is time for a pullback.
Looking for a PG Pull BackLooking back, we are just above the historical resistance level ~$94 dollars that rejected $PG on several occasions.
I'd keep an eye on this through the close and into opening next week. If today's highs mark the end of the most recent rally, I'd expect a pull back to the $91 range, and potentially down to $88.50.
I'd be surprised to see this continue to rip, given where it's been, as low as $71 back in April. I don't see it going back to those levels, but a retest of $86 would be better for the long term health.
PG looks overbought and currently at resistancePG has been on the nice ride since May 2018. It is currently on a raising wedge pattern and looks overbought, which correspond to the resistance area. It will likely to pullback anytime soon, possibly to somewhere between $84 and $85 which is the support area after a gap up. However, it is safer to wait until the next trading day to confirm my prediction.
PG hits a P9 on the daily chart, as well as oversoldI sold a portion of my position on the last 9 on October 29th to take some profit in a down market, even though the stock continues to rise after. I am now selling the remaining position on this 9 because of the market conditions as well as the stock being oversold. I will look to get back in on a dip.
Trading is about position risk and I feel this position is in prime position to drop from these levels, trade careful
I would recommend trimming positions here as well as not buying if you do not have any positions.
PG daily shooter after ER, bullish wherever you break!When the stock markets encounter larger fluctuation, people deposit their cash from the high-risk stocks;
at the same time, if there is not really a financial crisis yet, still there will be some re-investment risk,
that's when stocks like PG and MCD start to be the major focus!
Here we got the daily shooter after its Earning report, a good long if it breaks to the upside;
also a good long if it pulls back to the demand zone or even the gap!
Let's see how it goes yo!
