Momentum Reversal? Procter and Gamble’s Heads Down for the First Time in 3 Days

The Hourly View for Procter and Gamble

  • At the moment, PG’s price is down $-0.51 (-0.36%) from the hour prior.
  • The hourly chart shows that Procter and Gamble has seen 2 straight down hours.
  • Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being below it. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Procter and Gamble’s hourly price chart is shown below.

PG

The Daily View for Procter and Gamble

  • At the time of this writing, PG’s price is down $-0.57 (-0.41%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved up.
  • As for the trend on the daily timeframe, we see the clearest trend on the 20 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Procter and Gamble. Given that we see an uptrend on the 20 and 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Below is a daily price chart of Procter and Gamble.

PG

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