Procter Quotes & Gamble continues to move within the correction and formation of the ”Triangle" model. Moving averages indicate the presence of a short-term bearish trend for PG. Prices have broken up the area between the signal lines, which indicates pressure from buyers of securities. At the time of publication of the forecast, the value of Procter shares & Gamble is 136.99. As part of the PG stock price forecast, we should expect an attempt to develop a correction and a test of the support level near the area of 133.05. Next, a rebound up and a continuation of the rise in the value of securities. The potential target of such a movement is the area above the level of 145.00.
An additional signal in favor of a rise in PG quotes will be a test of a broken trend line on the relative strength indicator (RSI). The second signal will be a rebound from the lower border of the ”Triangle " model. Cancellation of the option of growth of quotations of the value of Procter shares & Gamble will be a drop and a breakdown of the level of 130.00. This will indicate a breakdown of the support area, as well as the lower border of the ”Triangle” model and the continuation of the fall into the area at the level of 120.00. We should expect an acceleration of the stock's rise with a breakdown of the resistance area and a close above the level of 140.00, which will indicate a breakdown of the upper limit of the ”Triangle" model.
Shares of Procter & Gamble: forecast for July and August 2021
Thus, Procter shares & Gamble forecast for July and August 2021 suggests the development of a correction and a test of the support area near the level of 133.05. From where we should expect a rebound and an attempt to continue the stock's rise to the area above the level of 145.00. The trend line test on the relative strength indicator will be in favor of the growth of securities. The cancellation of the PG rise option will be a fall and a breakdown of the 130.00 level. This will indicate a breakdown of support and a continuation of the fall in value to the area below the 120.00 level. As you can see, the technical analysis of Procter shares & Gamble points to a good opportunity to buy from the lower boundary of the ”Triangle" model with minimal risk and good potential profit.