Last 2 weeks have been rough on value and most health stocks. When Risk assets (Tech) outperform, stocks like value and health which are consider defensive tend to underperform or outright correct.
I think in the upcoming g next 2 weeks there will be a rotation back into value.
Here's PG on the weekly approaching trendline support, fibonacci support , weekly 50sma and daily 200sma all around 143 area .
Im looking for a pop up to 150 in the next week before a minor pullback then a leg Higher to 160.
Price usually doesn't go straight up, there's usually a accumulation pattern (Double bottom , inverted H&S) like I've showed in the yellow box
142 stop loss
I think in the upcoming g next 2 weeks there will be a rotation back into value.
Here's PG on the weekly approaching trendline support, fibonacci support , weekly 50sma and daily 200sma all around 143 area .
Im looking for a pop up to 150 in the next week before a minor pullback then a leg Higher to 160.
Price usually doesn't go straight up, there's usually a accumulation pattern (Double bottom , inverted H&S) like I've showed in the yellow box
142 stop loss