Proctor & Gamble is a solid company and that is well evidenced by its stock price.
Since the start of the pandemic, P&G’s stock price has nearly doubled, and we saw new all-time highs in late 2021.
2022 has been extremely volatile for the stock so far. It has formed a double top and more lows.
With a loss of just over 15%, the share price ended and found support at around $140.
Since then, we have an uptrend approaching the overlying uptrend line.
Should the line be respected and the movement turns out to be a test,
we can assume a continuation of the downward trend since the beginning of the year.
On the contrary, it looks like if the downtrend line is not respected and becomes a support.
Then we could possibly see a trend change and thus move the stock north.
We wish you a successful start into the trading week!