Procter & Gamble: Target Zone Ahead!

Wave [1] in dark green has been successfully completed, creating a new support level at $157.47 with its low. PG is currently working on the countermovement of wave [2], and we have outlined a Target Zone for the expected top (between $171.66 and $177.84). This price range could be an opportunity to take profits from long trades or establish new short positions. However, our alternative scenario, which allows for a breakout to the upside, holds a 34% probability. If the stock manages to climb above the resistance at $180.43, this will suggest that the broader uptrend continues. In this case, the low observed would not correspond to wave [1] in dark green, but rather to wave alt.(IV) in blue. So, potential short positions could be secured with a stop-loss set 1% above the upper boundary of our Target Zone.