PG trade ideas
#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 If the price reaches it, we will consider that our view is no longer valid, and maybe a bearish movement could start.
PG - Elliottwave analysis - 5th wave up PG - It is in 5th wave up after 4th wave ended in expanded flat correction with C wave as diagonal structure. So stay bullish with stop level below 134.37 for target above 148 or higher level as 5th wave.
Give thumbs up if you really like the trade idea.
PG - Elliottwave analysis - 5th wave up will start soon PG - It completed the 4th wave correction and starts moving higher. But need an impulse up move to confirm the next up cycle as final 5th wave up of impulse cycle. Stay bullish once it crosses above 138.82 level as confirmation level with stop level below 134.37 for target above 150-160 zone.
Give thumbs up if you really like the trade idea.
$PG getting ready to flush to 200 MAPG at critical level. If it gives up 134.5 can go down to 130 and 127.x which is 200 MA
Procter & Gamble ~a safe gamble~The green arrow in the chart show the support being tested around $135.
The upside is around $144, and a stop-loss exit below the 100ema makes sense for at least 50% of the trade.
RSI has slightly improved, showing bullish intent.
PG is probably being used to collect dividend, so choppiness in the drawn channel isn't a negative thing.
PG - Elliottwave analysis - 5th wave up will start soonPG - It is within diagonal structure of C of Y of 4th wave correction. After which it will expected to start the bigger impulse 5th wave up, which will go above the 150 level to complete the whole sequence. So wait for confirmatory impulse up after 4th wave finishes the get in to the trade with low as stop level.
Give thumbs up if you really like the trade idea.
PG -- Triangle. Maybe too earlyTriangle formation on the go, maybe is too early to recognize it but let's follow
$PG - watch for reversal to enter Wait a day or so to get confirmation that PG is headed north again.
PG bearish scenario:PG bearish scenario:
We have technical figure Triangle in US company The Procter & Gamble Company (PG) at daily chart. The Procter & Gamble Company is an American multinational consumer goods corporation. It specializes in a wide range of personal health/consumer health, and personal care and hygiene products; these products are organized into several segments including Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine, & Family Care. The Triangle has broken through the support line at 20/11/2020, if the price holds below this level we can have possible bearish price movement with forecast for the next 5 days towards 136.19 USD. Our stop loss order should be placed at 144.78 USD if we decide to enter this position.
Fundamentals:
- Procter & Gamble Co raised its annual sales and earnings forecasts on Tuesday, as coronavirus-driven home cleaning pushed sales of the consumer goods giant’s home care products as much as 30% higher.
- P&G also expects full-year core earnings per share to be up 5% to 8%, compared with 3% to 7% earlier, and said it would aim to buy back $7 billion to $9 billion in shares in fiscal 2021.
PG - Elliottwave analysis - Pump at 135-132PG - It is in 4th wave correction and C of Y wave is in progress and expected to finishes near 135 - 132 level, which will be considered the good buy set up for next up cycle as 5th wave in 4 hr time frame and can go up to 155 or higher.
Give thumbs up if you really like the trade idea.
bearish divergence on PGPG hitting 52 week highs, you can see the bulls are losing steam as the RSI and MACD are making lower highs, the last daily candle got pushed down hard at the resistance line, looking for anther bearish daily candle for confirmation. I think we could easily see 104 in the coming days, the market as a whole is looking prime for a pullback. If we break trend line don't mind me. these bearish divergence calls are difficult to time and the divergence can last must longet than you think! trade carefully! this is not trading or financial advise!!!!!
PG - Elliottwave analysis - Dump then Pump set upPG - It is in 4th wave correction on 4 hr time frame, which may be turn out either triangle or complex sideway correction. So sell on bounce will be the initial trade set up near the zone 142-143.80 with stop level above 146.82 for target below 137-135 zone. Stay small in size as there will be alternate possibility of count. Once it completed the correction, it will then go higher for 5th wave up and go above 150.
Give thumbs up if you really like the trade idea.
PG - Elliottwave analysis - Bull casePG - It is in the 5th wave of 3rd wave up in 4 hr time frame, where 4th wave seems finished in 30 min time frame. But need confirmation of impulse wave up in 5 min time frame for get in to trade. It is still underperforming the SPX, so wait for confirmatory move before get in to.
Give thumbs up if you really like the trade idea.
