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Uptrend Broken SupportArchive
- 4/5/2024 -
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Procter & Gamble (PG) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was the negative week for the Procter & Gamble (PG). During the week, the PG dropped -6.15 points, or -3.79%, and closed at 156.10 on Friday, April 5, 2024. It was the worst weekly loss since December 8, 2023. Weekly volume was 11% above average.
 Long-term trend: [See PG long-term trend chart]
A long-term uptrend had started on October 10, 2022 at 122.18 and reached 163.14 on March 28, 2024. PG gained -40.96 points, or -33.52%, in 76 weeks. The price is now at the 17.19% retracement level.
 Medium-term trend: [See PG medium-term trend chart]
A medium-term uptrend had started on October 6, 2023 at 141.45 and reached 163.14 on March 28, 2024. PG gained -21.69 points, or -15.33%, in 24 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 144.11 and resistance is at 163.73. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See PG weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since January 19, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See PG short-term trend chart]
A short-term uptrend had started on December 15, 2023 at 142.50 and reached 163.14 on March 28, 2024. PG gained -20.64 points, or -14.48%, in 104 days. The chart has formed a Rising Wedge chart pattern. The uptrend support line (165.07) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. PG may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a short-term trend.
 Daily Technical Indicators: [See PG daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since March 13, 2024. The distance between MACD and the signal line is near its high and getting bigger.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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