Procter and Gamble’s 4 Day Down Streak Comes to an End

The Hourly View for Procter and Gamble

  • At the time of this writing, PG’s price is down $-0.3 (-0.19%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved up.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
  • Price action traders may also wish to note that we see a doji candlestick pattern on Procter and Gamble. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the hourly 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.

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

PG

The Daily View for Procter and Gamble

  • Currently, PG’s price is up $0.35 (0.22%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as Procter and Gamble has now gone down 4 of the past 5 days.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • The moving averages on the daily 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.
  • 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.

PG

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