Will PROCTER & GAMBLE CO/THE (NYSE:PG) breakout?

PROCTER & GAMBLE CO/THE (NYSE:PG) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NYSE:PG.

In-Depth Technical Analysis of NYSE:PG

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

We assign a technical rating of 10 out of 10 to PG. 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.
• When comparing the yearly performance of all stocks, we notice that PG is one of the better performing stocks in the market, outperforming 75% of all stocks. We also observe that the gains produced by PG over the past year are nicely spread over this period.
• PG is one of the better performing stocks in the Household Products industry, it outperforms 72% of 12 stocks in the same industry.
• PG is currently trading in the upper part of its 52 week range. The market is still in the middle of its 52 week range, so PG slightly outperforms the market at the moment.
• In the last month PG has a been trading in the 162.20 - 179.99 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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?

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NYSE:PG currently has a 8 as setup rating:

PG has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 177.79. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 172.86, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading breakout setups.

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.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

More breakout setups can be found in our Breakout screener.

Keep in mind

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 observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.