Procter & Gamble has struggled with weak product volumes recently, and now the stock could be showing signs of beginning a downtrend.
PG ended 2022 and began 2023 in a tight range between roughly $150 and $155. It broke lower on January 18 as earnings approached, followed by another drop after the results were made public.
The consumer giant stock then held its ground around $140, creating two noteworthy patterns. First, it consolidated and held under the 200-day simple moving average (SMA). That may suggest its longer-term trend is turning bearish.
Second, the sideways movement created a potential bearish flag. Today’s price action may represent a breakdown from that flag.
Finally, MACD has been falling for over a month.
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Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com/important-information.
PG ended 2022 and began 2023 in a tight range between roughly $150 and $155. It broke lower on January 18 as earnings approached, followed by another drop after the results were made public.
The consumer giant stock then held its ground around $140, creating two noteworthy patterns. First, it consolidated and held under the 200-day simple moving average (SMA). That may suggest its longer-term trend is turning bearish.
Second, the sideways movement created a potential bearish flag. Today’s price action may represent a breakdown from that flag.
Finally, MACD has been falling for over a month.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com/important-information.