Before yesterday’s close of the stock market, the share of the American group Procter & Gamble Company rose by 0.57%. Prior to the sustained upward trend, the share price had last risen on 10.10. marked a low at $122.18 and has since risen by over 20% at times. One of the reasons for the increase was that the earnings and sales results for the past quarter were slightly above analysts’ expectations. However, the strong position as a reliable dividend payer and innovations, for example in the field of sustainable packaging such as new types of paper bottles, could also be good buying arguments.
The current upward movement has brought a positive change to the chart picture. In the current uptrend, a new high was reached with the last rise to $146.63 yesterday (Wednesday). The next resistance above it can be seen in the $151.00 area. The last support was marked by the price at $139.90. Should the price stay above the mentioned support in the near future and respect it, this can be interpreted as a bullish signal and a continuation of the rise towards $150.00 or even beyond could take place. Otherwise, the price could fall back to support. Another possibility would be a sideways movement in the $146.00 area.