PRG trade ideas
Bearish Triangle in Procter & GambleConsumer staples have lagged this year as investors look past the stay-at-home trend. The biggest stock in the sector, Procter & Gamble, is forming a bearish triangle pattern.
The $128 level is important because it was resistance in February 2020 – immediately before the pandemic slammed markets. PG has been holding the level for more than two weeks while making lower highs.
The diaper, soap and paper-towel giant also consolidated below its 200-day simple moving average.
Interestingly, PG reported strong results on January 20. But no one particularly cared. Analysts also see conditions weakening as sales slow and commodity inflation bites into margins.
Overall, PG isn’t an exciting new-technology stock, or an undervalued cyclical (like financials, energy and industrials.) It’s relatively expensive and offers little exposure to reopening or innovation. Lots of investors own it, which makes it vulnerable to selling as they look to enter more exciting areas.
The lackluster response to PG’s last quarter suggests that may be happening. A period of distribution could be at hand.
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PG 8/21 EMA cross8 EMA crossed the 21 multiple times in the past week. If the 50 comes below the 8/21 I think we can expect a full bull play from the pennant forming.
PG: Nice Bullish Pattern Forming HereThe harmonic pattern is completed so we expect the long soon. It may want to drop to the buy zone first to eat up more liquidity or just take off now. I will keep this chart updated. Thank you for the support.
P&G SPEC LONG a major support .50 and .382 chart posted is that of P&G It seem to be looking to turn here just maybe for a trade
Flag Pattern above key Support on PGToday, we will share a bullish view we have on Procter & Gamble Co.
a) After making a new ATH from JUL 2020 to NOV 2020, we saw a corrective movement that found support on the ATH before the Pandemic.
b) Now, we can observe a key Support zone with a Flag pattern above it.
c) Flag Patterns are considered continuation structures, and the confirmation level is when the price goes above B
d) We expect a bullish resolution of this stock. IF the price reaches our confirmation level, and a bullish movement towards the First and second Fibo Extension.
Procter & Gamble: Hole in One? 🏌️Be prepared for a nice hit at the Procter & Gamble stock! We are approaching the target range, which will be an amazing opportunity to add this long-term bull to your portfolio or to stock up your position. Primarily, we are expecting the price to drop a little bit further until at least $124.86 and then skyrocket past $134.74 and eventually past $146.89. Alternatively, and with a chance of 46% not too far behind the primary scenario, we see the price drop to $118.66 after which the price should also draw a similarly steep line past $134.74 and $146.89.
Don’t miss out on this one!
Procter & Gamble (PG) The stock’s defensive characteristics add to its investment appeal. Core earnings were up 19% during health, and home goods, spurred by pandemic-fueled consumption (especially in North America), continued to drive its recent performance.
$PG projected with a neutral outlook following earnings The PEAD projected a neutral outlook for $PG after a negative under reaction following its earning release placing the stock in Drift D
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Reversal on PG? Target $ 144.48NYSE:PG
- Downward trend line broken
- MACD is sloping up
- RSI low
- Buy price @ $ 136.47
- 1st target@ $ 140.21
- 2nd target @ $ 144.48
- Stop loss @ 131.98
#PG Long!PG looks like a good long if it can hold support or bounce off my next fib if not i see this dropping to the area I have marked up before making another impulsive move higher, overall i see this following Eliot wave nicety don't miss this one you can ride the top or ride the bottom your choice!
PG Bearish inclined naked calls - 22 Jan expiryJanuary's Secondary Trade
This trade is slightly riskier and is the opposite of the general market movement ( bullish ).
The reasons why I pegged this as bearish is:
Based on the 9 Nov price movement due to the US elections, where post COVID-19 stocks spiked, PG fell.
Consumer Defensive sector seems to be in a position where traders in the short term don't see much aggressive growth vs other sectors which have taken a beating and are poised for bigger climbs as we advance against the virus with the vaccines
PG also seems to be contained in a range that puts my strike in a favorable position as it is near the upper S/R Line.
I'm slightly worried about the Earning release on the 20 Jan and might close this trade before just to be safe. This trade will be hedged with a bullish VXX trade, paid by the Jan premiums
Sold 7 CALLs @ 1.5, Strike 142
BP block: 17k
Max gain est: $1045
PG Earnings Play - Jan 20Defined lateral channel. Earnings coming up next week testing all time high. Stock has much room to go.
What we can see on PGToday, we will share our VIEW on PG.
a) The main structure of the current movement is the ascending channel, which has been broken, and currently, we can see the price on the edge of it
b) The second most relevant structure is the corrective pattern we can see on the edge of the ascending channel
c) If we have a breakout of the corrective structure (on the green line), We will consider that the view is active
d) If the price goes as expected, the first Fibo level is a risk-free zone, meaning that we would move our stop loss to break-even
e) Our Final target is 167, where we expect a 100 days movement
f) Also, it's essential to pay attention to the invalidation level. If the price reaches it, we will consider that our view is no longer valid, and maybe a bearish movement could start.
