The Procter and Gamble Company (PG) Elliott Wave technical analysis [Video]

PG Elliott Wave Analysis Trading Lounge Daily Chart, 9 February 24.

The Procter & Gamble Company, (PG) Daily Chart.

PG Elliott Wave technical Analysis

Function: Trend.

Mode: Impulse.

Structure: Motive.

Position: Minor wave 1 of (3).

Direction: Acceleration in wave (3).  

Details: Looking for upside resumption as we have found support on Medium Level 150$ and we are now trading above previous resistance and we have broken it with increasing volume suggesting the move is trend establishing, rather than corrective.

PG Elliott Wave Analysis Trading Lounge 4Hr Chart, 9 February 24.

The Procter & Gamble Company, (PG) 4Hr Chart.

PG Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave (i) of {iii}.  

Direction: Upside into wave v of (i).

Details: Looking for continuation higher on the intraday as every pullback to the downside seems to be a three wave move and therefore corrective in nature. Looking for a top soon in what could be either wave (i) of {iii} or else wave {iii}.

Welcome to our PG Elliott Wave Analysis Trading Lounge, your trusted source for comprehensive insights into The Procter & Gamble Company (PG) through Elliott Wave Technical Analysis. As of the Daily Chart on 9th February 2024, we uncover pivotal trends guiding the market.

*PG Elliott Wave Technical Analysis – Daily Chart*

In terms of wave dynamics, we discern a dominant impulse function with a motive structure. The current position is in Minor wave 1 of (3), indicating acceleration in wave (3). Our focus is on the resumption of upside momentum, particularly as we find support at the Medium Level of $150. Notably, trading above previous resistance with increasing volume suggests a trend-establishing move rather than a corrective one.

*PG Elliott Wave Technical Analysis – 4Hr Chart*

Here, the wave function remains impulsive with a motive structure. The present position is in Wave (i) of {iii}, signaling an upside movement into wave v of (i). We anticipate continued upward momentum intraday, especially as pullbacks to the downside manifest as three-wave moves, indicative of corrective nature. We remain vigilant for a potential top, which could signify either wave (i) of {iii} or wave {iii}.

Technical Analyst: Alessio Barretta.