Interesting Technical Analysis finding for PROCTER & GAMBLE CO/THE (NYSE:PG)

Our stock screener has spotted PROCTER & GAMBLE CO/THE (NYSE:PG) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NYSE:PG.

Zooming in on the technicals.

Every day, ChartMill assigns a Technical Rating to each stock, providing a score ranging from 0 to 10. This rating is determined by evaluating various technical indicators and properties.

We assign a technical rating of 7 out of 10 to PG. Although PG is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

• Both the short term and long term trends are positive. This is a very positive sign.
• PG is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so PG is lagging the market slightly.
• When comparing the performance of all stocks over the past year, PG turns out to be only a medium performer in the overall market: it outperformed 47% of all stocks.
• In the last month PG has a been trading in a tight range between 148.83 and 153.63.

For an up to date full technical analysis you can check the technical report of PG

How do we evaluate the setup for NYSE:PG?

Alongside the Technical Rating, ChartMill assigns a Setup Rating to evaluate the consolidation level of a stock. This rating, ranging from 0 to 10, is updated daily and considers various short-term technical indicators. The current setup rating for NYSE:PG is 9:

Besides having an excellent technical rating, PG also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 152.22. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 151.52, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

How to trade NYSE:PG?

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Disclaimer

This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.