Extreme caution for longs, this looks like it will certainly be going lower next week and will at the very least test $74, price and volume here are speaking loud and clear.
Although Procter & Gamble delivered quarterly profit that topped expectations on Thursday, it marked the sixth-straight drop in sales. Revenue of $17.79 billion was below forecasts and lower than last year's $20.16 billion, as P&G continued to be weighed down by a stronger dollar that stripped the value of overseas sales. More pressure is yet to come as the Fed...
hi guys! On D1 time frame we have really nice breakout. It's strong signal to buy this stock. Take profit on resistance ~84.75 and S/L below support ~80.50.
See my chart, Just use the fib & linear regression lines for your trade setup. Your next buy long is 75 and or 70. For 2030 theme, ask yourself... What will the next 10 billion people on the planet consume? What products will they use from birth to adult? What products will those new consumers need to increase their quality of living & how can PG keep innovating...
PG just keep unfolding as expected. Sure wish it would always be that clear. Actually it is very rare that a stock shows that nice of a pattern.
Anyway we are in a corrective rally and the only thing I am confident about is it is not over yet. Even if the rally of past couple of weeks stopped right at the apex of a contracting triangle ( wave iv ) a common...
Even if I am still somewhat bearish on the overall equity market, I have to move to neutral on PG as it has reached minimum expectation. It is hard to say if the last wave of the decline from all time high is over. Much more a matter of opinion thus I am taking my chips off the table on PG. If bears are not done pounding the stock, ideal target is around 77-78 and...
Updated. AB=CD 1.618 ext hit. Price went on to trace out a Bear Pennant which confirmed on Friday. Crab retrace target is 72.77 / Pennant tgt just above that.
If so, the overall market can be choppy down for a little while then rally to new high while PG would not confirm it. In other word, PG would be ending an impulse wave down right now ( the TREND ) then would go up in a choppy rally ( Countertrend ) before resuming its decline which would coincide with the beginning a decline in the overall stock market.
Just perfect: Speed limit respected and matched in all time frames.
perfect upside run since July: 21% in 5 waves.
Short 3% at current 93.46.
As soon as 87, take profit on half and move stop to entry on the remaining. take profit 82 on remaining if not stopped.
