PROCTER & GAMBLE CO/THE (NYSE:PG) Reveals Intriguing Technical Aspects. Here's What You Need to Know.

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.

Technical analysis of NYSE:PG

ChartMill assigns a Technical Rating to every stock. This score ranges from 0 to 10 and is updated daily. The score is determined by evaluating multiple technical indicators and properties.

Overall PG gets a technical rating of 7 out of 10. 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.

• The long and short term trends are both positive. This is looking good!
• 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.
• 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 56% of all stocks.
• PG is an average performer in the Household Products industry, it outperforms 45% of 12 stocks in the same industry.
• In the last month PG has a been trading in a tight range between 165.82 and 171.89.

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

How does the Setup look for NYSE:PG

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the extent of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:PG has a 9 as its setup rating:

PG has an excellent technical rating and 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 171.55. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 170.87, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading setups like NYSE:PG

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

More breakout setups can be found in our Breakout screener.

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.