Even if I am still somewhat bearish
on the overall equity market, I have to move to neutral on PG
as it has reached minimum expectation. It is hard to say if the last wave of the decline from all time high is over. Much more a matter of opinion thus I am taking my chips off the table on PG
. If bears are not done pounding the stock, ideal target is around 77-78 and then next one is the extreme low of the triangle at 74.
Moving back above 84 will suggest the corrective rally is underway. Stay tuned.