Technical Insights for PROCTER & GAMBLE CO/THE (NYSE:PG): Is a Breakout Imminent?

Our stockscreener has identified a possible breakout setup on PROCTER & GAMBLE CO/THE (NYSE:PG). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NYSE:PG for potential opportunities.

Technical analysis of NYSE:PG

ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.

Overall PG gets a technical rating of 8 out of 10. Both in the recent history as in the last year, PG has proven to be a steady performer, scoring decent points in every aspect analyzed.

• Both the short term and long term trends are positive. This is a very positive sign.
• Looking at the yearly performance, PG did better than 71% of all other stocks.
• PG is part of the Household Products industry. There are 12 other stocks in this industry. PG outperforms 72% of them.
• PG is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• In the last month PG has a been trading in a tight range between 161.42 and 168.97.

Our latest full technical report of PG contains the most current technical analsysis.

How do we evaluate the setup for NYSE:PG?

ChartMill incorporates a Setup Rating in its analysis, which measures the extent of consolidation in a stock over recent days and weeks. This rating, ranging from 0 to 10, is updated daily and takes into account multiple 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. There is a resistance zone just above the current price starting at 168.57. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 168.35, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading setups like NYSE:PG

A breakout opportunity may arise when the stock surpasses the current consolidation zone and reaches new highs. Traders often wait for this breakout before considering buying the stock. To manage risk, a stop loss order could be placed below the consolidation zone to limit potential losses.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

This article should in no way be interpreted as advice. 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.