Procter & Gamble Falls 1.86% on Heavy Volume: Watch For Potential Rebound
Procter & Gamble (NYSE:PG) traded in a range yesterday that spanned from a low of $85.71 to a high of $86.82. Yesterday, the shares fell 1.9%, which took the trading range below the 3-day low of $87.43 on volume of 5.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
Procter & Gamble share prices have moved between a 52-week high of $90.33 and a 52-week low of $65.02 and are now trading 32% above that low price at $85.77 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.
SmarTrend recommended that subscribers consider buying shares of Procter & Gamble on June 9th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $82.85. Since that recommendation, shares of Procter & Gamble have risen 5.6%. We continue to monitor PG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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