The Procter & Gamble Co. (PG) Elliott Wave technical analysis [Video]
|PG Elliott Wave technical analysis
-
Function: Trend.
-
Mode: Impulsive.
-
Structure: Motive.
-
Position: Wave (i) of {i}.
-
Direction: Upward in wave (I).
Details:
Procter & Gamble has found reliable support above the Medium Level at $150, indicating the beginning of a move higher. The current Elliott Wave analysis places the stock in wave (i) of {i}, with a likely advance toward the Minor Group 2 resistance, which begins at $165.
PG Elliott Wave technical analysis
-
Function: Trend.
-
Mode: Impulsive.
-
Structure: Motive.
-
Position: Wave iv of (I).
-
Direction: Upward into wave v.
Details:
In the short term, PG appears to be forming a bottom in wave iv. If this level holds, it would suggest the start of wave v of (i), potentially forming a bullish setup near the $165 mark. A decisive move above this level would strengthen the bullish case.
Overview
This technical assessment uses Elliott Wave principles to track Procter & Gamble’s momentum on both daily and hourly intervals. Analysts expect upward continuation, particularly if price action sustains above key resistance zones.
The Procter & Gamble Co. (PG) Elliott Wave technical analysis [Video]
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.