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PG Proctor Gamble Company


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PG Proctor Gamble Company

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  #1 (permalink)
 gdavis 
new york city, new york
 
 
Posts: 5 since Aug 2014

PG is about to test it's 52week high. I don't want to wait until October for its earnings release. Should I buy it now?

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  #3 (permalink)
 Underexposed 
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014



gdavis View Post
PG is about to test it's 52week high. I don't want to wait until October for its earnings release. Should I buy it now?

Well you could have chosen a worse stock to play Whether to buy or watch right now depends on your tolerance for risk...that is your decision. But I will do my form of TA and you can make a judgement for yourself on what you want to do.



I use P&F charts to find resistance/support levels and judge a future target based on what has happened before.

In this chart it shows an assault in progress on breaking not just a 52 week average but rather an all-time high. Investors know that level for what it is, so this makes this a pretty strong resistance. As far as supports go there are multiple small supports below it down to $81.50...they are not well tested as supports so it is hard to judge how strong they are individually but they exist. Your resistance is at $83.50 and it is strong as I have said....

but beyond that you'd be headed into unknown territory. However, passing such a resistance would create a strong support at that level and the initial run would last a while.



this chart shows the response to the last financial report where there was some mixed reaction from analysts...higher revenues than expected but less sales

Stock Market Quotes | Stock Market Quotes and Symbols

Obviously investors took a bullish view on that report.

This chart shows to be quite bullish...the Slow Sto is pegged in the so-called "overbought" zone (I view this as very bullish) the MACD and BBwidth have nice strong positive slopes. The end of such a run occurs when the Slo Sto trends below 80, and the curves for MACD and BBwidth reverse direction...that is not going to happen soon IMO.



There are a few mixed messages in this chart.

The CFM underlay could be a lot better. It is only now emerging from the mud...this is a weak bull move though the distance it had to go to get out is encouraging.
The RSI looks fine now, it has a positive slope since the beginning of Aug reversing the previous month's trend.
the DI+/- showed a lot of indecision from mid-May to end of July (I call this pattern "chaining" but now it is decidedly bullish with the green line diverging from the red....the ADX is now showing the current price trend is strong.



The OnBal Vol and CCI are bullish now and the Ichmoku chart could not be better...nothing negative here.

Conclusion

The only real negative is that the price has not passed this strong resistance line. the charts show that PG price has a very good shot at doing just that tomorrow or early next week. However, it could stall here and fall back.

As I said at the beginning...whether you buy now or later depends on your tolerance for risk. Personally purchasing on the down side of a strong resistance can be risky as the price may reverse on you. If you wait until the resistance is passed and close means you have a strong support at your back (ceilings become floors).

It is your decision as to whether you buy now or wait a day or so to see whether or not the resistance fall. I cannot say whether you take either choice....that depends on you....but as I said earlier....you could have chosen a worse stock to play

Good trading.........

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  #4 (permalink)
 gdavis 
new york city, new york
 
 
Posts: 5 since Aug 2014

Thanks for the advice. I really appreciate your help

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