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Look for Shares of Procter & Gamble to Potentially Rebound after Yesterday's 1.81% Sell Off

By Amy Schwartz

Procter & Gamble (NYSE:PG) traded in a range yesterday that spanned from a low of $91.36 to a high of $92.99. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $92.26 on volume of 3.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Procter & Gamble share prices have been bracketed by a low of $70.73 and a high of $94.86 and are now at $91.62, 30% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.6%.

SmarTrend recommended that subscribers consider buying shares of Procter & Gamble on October 19th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $86.31. Since that recommendation, shares of Procter & Gamble have risen 8.1%. We continue to monitor PG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Procter & Gamble

Ticker(s): PG