Proctor & Gamble Finalizing 5th Wave Up in Parabolic Fashion
Analysts predict that Procter & Gamble earnings growth rate will slow down to 6.88% over the next 5 years. The recent rally in PG's stock price however, would have you believe the company's earnings and revenue were growing at a double digit rate.
From a technical perspective, indicators are rolling over as the stock is climbing in a parabolic manner inside a rising channel.
The best way to play PG for a downside move is to fade the trade by shorting the stock. First, we will set a sell stop below the 10 day EMA. A close below this level should see the stock dump to the 50 day or previous break out spot and create the "A" leg of an ABC correction. On a bounce, we will look for a failure at "B" and add to our short below the 50 day EMA.
Our initial profit target for PG is $94 and secondary target of $86 ("C").
From a technical perspective, indicators are rolling over as the stock is climbing in a parabolic manner inside a rising channel.
The best way to play PG for a downside move is to fade the trade by shorting the stock. First, we will set a sell stop below the 10 day EMA. A close below this level should see the stock dump to the 50 day or previous break out spot and create the "A" leg of an ABC correction. On a bounce, we will look for a failure at "B" and add to our short below the 50 day EMA.
Our initial profit target for PG is $94 and secondary target of $86 ("C").
AlgoTrend Capital LLC
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
AlgoTrend Capital LLC
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.