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Possible Bullish Inside Day Candle Pattern Detected for Procter & Gamble (NYSE:PG)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Procter & Gamble (NYSE:PG) based on the price action in the company's shares. Yesterday's price range of $87.00 and $87.47 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Procter & Gamble may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, Procter & Gamble share prices have been bracketed by a low of $80.95 and a high of $92.00 and closed yesterday at $87.15, 8% above that low price. The 200-day and 50-day moving averages have moved 0.02% lower and 0.06% lower over the past week, respectively.

The Procter & Gamble Company manufactures and markets consumer products in countries throughout the world. The Company provides products in the laundry and cleaning, paper, beauty care, food and beverage, and health care segments. Procter & Gamble products are sold primarily through mass merchandisers, grocery stores, membership club stores, drug stores, and neighborhood stores.

Procter & Gamble (NYSE:PG) has potential upside of 5.7% based on a current price of $87.15 and analysts' consensus price target of $92.11. Procter & Gamble shares have support at the 50-day moving average (MA) of $82.13 and additional support at the 200-day MA of $77.57.

SmarTrend is monitoring the recent change of momentum in Procter & Gamble. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Procter & Gamble in search of a potential trend change.

Keywords: bullish am inside day candle Procter & Gamble

Ticker(s): PG