• Return to Headlines

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

By David Diaz

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. Today's price range of $90.06 and $90.35 is within yesterday'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.

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. Proctor & Gamble's products are sold primarily through mass merchandisers, grocery stores, membership club stores, drug stores, and neighborhood stores.

In the past 52 weeks, shares of Procter & Gamble have traded between a low of $65.02 and a high of $91.89 and are now at $90.24, which is 39% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Procter & Gamble (NYSE:PG) has potential upside of 2.1% based on a current price of $90.24 and analysts' consensus price target of $92.11. The stock should find initial support at its 50-day moving average (MA) of $82.13 and further support at its 200-day MA of $77.57.

SmarTrend recommended that subscribers consider buying shares of Procter & Gamble on January 20th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $87.20. Since that recommendation, shares of Procter & Gamble have risen 3.6%. We continue to monitor PG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle Procter & Gamble

Ticker(s): PG