After a experiencing a huge fall early in the year, the price of $PG gained momentum for a rise in June. Since June, it has all been bullish for the $PG shares, moving over 2000points in 2018. Just two weeks ago, the price of $PG reached 94.88, the highest point in the year. Though a bearish movement occurred in the second week of October for a short while, the bulls took over again. Price is yet to be oversold due to the active roles of the bulls.
Unlike many other stocks, $PG finished October with the bulls in charge. Price is currently at 91.94. After the new high of 2018 was reached, a reversal has begun indicating a bearish move in $PG. Price is yet to cross the lower region of the Bollinger band. The Ichimoku too shows a bullish future. However, a breakout to the downside has occurred from the trendlines showing the beginning of a correction. RSI indicates an overbought position which has previously occurred at three different instances. Though $PG outperformed this year, price action now signals a consolidation period that could lead to losses.
Source: Why Procter And Gamble Is Now All The Rage On Wall Street (NASDAQ)