THE PROCTER & GAMBLE CO.: MURREY ANALYSIS

Current trend

Shares of The Procter & Gamble Co., one of the leaders in the consumer goods market, have been moving within an upward trend since the end of last year: during this time, the price reversed upwards from 143.75 (Murrey level [2/8]) and moved into the positive part of the trading range Murrey and is currently trying to consolidate above 159.38 (Murrey level [7/8]). If successful, the positive dynamics will continue to the upper limit of the trading range at 162.50 (Murrey level [8/8]) and further into the reversal zone at 165.62 (Murrey level [ 1/8]). If the quotes overcome the key “bearish” level of 156.25 (Murrey level [5/8]), supported by the lower line of Bollinger Bands, it is expected to reach the area of 153.12 (Murrey level [5/8]) and 150.00 (Murrey level [4/8]).

Technical indicators reflect a continuation of the upward trend: Bollinger Bands are directed upwards, the MACD histogram is decreasing, remaining in the positive zone, and Stochastic is trying to reverse upwards from the oversold zone.

Support and resistance

Resistance levels: 159.38, 162.50, 165.62.

Support levels: 156.25, 153.12, 150.00.

Trading tips

Long positions may be opened above 159.38 with the targets at 162.50, 165.62, and stop loss 157.30. Implementation time: 5–7 days.

Short positions may be opened below 156.25 with the targets at 153.12, 150.00, and stop loss 158.80.