Current trend

Shares of The Procter & Gamble Co., one of the leaders in the global consumer goods market, are moving in a corrective trend at 152.00.

The company is cautious about the Q3 forecasts due to low expectations regarding the growth of consumer demand in China: according to experts, the weakening of the real estate market and the fall in export demand are directly related to the youth unemployment record, which negatively affects consumption. Also, the corporation had to increase the prices of its main brands of goods, which drew criticism from consumers: from April to June, the cost of products increased by 7.9%, due to which net sales reached 20.6B dollars.

According to the financial report, revenue was 20.6B dollars, which beat the forecast of 19.97B dollars, and earnings per share of 1.37 dollars, higher than expected 1.32 dollars but identical to the figure for the first quarter. This year, the data is stable, and analysts do not expect significant growth in the third quarter.

The last dividend payment took place on August 15, amounting to 0.9407 per share or 2.50% per annum. The next date will be determined closer to mid-autumn, after the publication of the Q3 statistics.

Support and resistance

On the daily chart, the trading instrument moves in the global corrective trend, forming a Triangle pattern.

Technical indicators weaken the buy signal: fast EMAs on the Alligator indicator are actively approaching the signal line, and the AO histogram, falling in the buy zone, forms bars with a downward trend.

Resistance levels: 154.00, 158.00.

Support levels: 150.00, 144.00.

Trading tips

Short positions may be opened after a reversal, reduction, and consolidation of the price below 150.00 with the target at 144.00. Stop loss – 152.00. Implementation period: 7 days or more.

Long positions may be opened after the price rises and consolidates above 154.00 with the target at 158.00. Stop loss – 152.00.