Shares of The Procter & Gamble Co., one of the leaders in the consumer goods market, are moving in a corrective trend at 160.00.

On the daily chart, the price is holding above the resistance line of the global sideways corridor of 142.00–158.00, trying to continue the growth.

On the four-hour chart, the positive dynamics are developing in an ascending channel with dynamic boundaries of 163.00–158.00, preparing to overcome the year’s high of 161.00, after which the price may reach 166.00. Otherwise, a return to the global channel and a decline to the support level of 153.00 is possible.

Technical indicators hold a buy signal: fast EMAs on the Alligator indicator move away from the signal line, expanding the range of fluctuations, and the AO histogram forms corrective bars in the buy zone.

Trading tips

Long positions may be opened after the price rises and consolidates above 161.30, with the target at 166.00. Stop loss – 159.00. Implementation period: 7 days or more.

Short positions may be opened after the price declines and consolidates below 158.00, with the target at 153.40. Stop loss – 160.00.