Procter and Gamble Snaps a 4 Day Down Streak

The Hourly View for Procter and Gamble

  • At the time of this writing, PG’s price is down $-0.03 (-0.02%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move up.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe.
  • The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

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


The Daily View for Procter and Gamble

  • At the moment, PG’s price is up $0.34 (0.22%) from the day prior.
  • Procter and Gamble has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists 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 downtrend 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.
  • Divergence between PG’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in PG’s price.

Below is a daily price chart of Procter and Gamble.


Featured Procter and Gamble Idea From TradingView

Below is a trading comment entitled PG rebounded. Consumer staples ftw you may find interesting:

PG rebounded with a tweezer bottom and a piercing line candle. However, we expect some resistance at US$157.02 region.