Procter & Gamble Stock Forecast

Procter & Gamble stock upgraded from Hold/Accumulate to Buy Candidate after Monday trading session.
(Updated on Apr 22, 2024)

PG Signals & Forecast

Mostly positive signals in the chart today. The Procter & Gamble stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $157.09 and $159.33. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 3.35%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Wednesday, November 22, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Procter & Gamble stock

Procter & Gamble finds support from accumulated volume at $155.62 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $4.03 between high and low, or 2.56%. For the last week the stock has had daily average volatility of 1.67%.

Since the Procter & Gamble has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: $153.22 (-4.56%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (PG) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect Procter & Gamble Company (The) to open at $159.69, and during the day (based on 14 day Average True Range), to move between $158.50 and $162.58, which gives a possible trading interval of +/-$2.04 (+/-1.27%) up or down from last closing price. If Procter & Gamble Company (The) takes out the full calculated possible swing range there will be an estimated 2.54% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $161.38 (0.52%) than the support at $155.62 (3.06%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Procter & Gamble Company (The) stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Procter & Gamble stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.029 Buy Candidate Upgraded

Predicted Opening Price for Procter & Gamble Company (The) of Tuesday, April 23, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.