Current trend

Shares of The Procter & Gamble Co., one of the leaders in the global consumer goods market, has continued to grow since the beginning of last month: during this time, the price reversed from the reversal level of 143.75 (Murray level [2/8]) and tried to move into the positive part of the Murray trading range, but so far it could not consolidate there and rolled back to the mark of 146.88 (Murray level [4/8]).

Judging by the persistence of the upward trend in the market, confirmed by the upward reversal of the Bollinger Bands and the Stochastic, in the near future the assault on the central mark of the Murray trading range of 150.00 (Murray level [4/8], the middle line of the Bollinger Bands) will continue. If it is broken out, further growth to the levels of 153.12 (Murray level [5/8]) and 156.25 (Murray level [6/8]) is possible. The key for the "bears" remains the mark of 146.88, its breakdown will allow the quotes to resume the decline to the area of 143.75 (Murray level [2/8]), but so far this option of movement seems less likely.

Support and resistance

Resistance levels: 150.00, 153.12, 156.25.

Support levels: 146.88, 143.75.

Trading tips

Long positions can be opened above 150.00 with targets at 153.12, 156.25 and stop-loss in the area of 147.80. Implementation period: 5-7 days.

Short positions should be opened below 146.88 with a target at 143.75 and stop-loss at around 149.00.