Procter & Gamble may rise to 172.00 - 173.40

Our pivot point stands at 165.

Our preference

The upside prevails as long as 165 is support.

Alternative scenario

The downside breakout of 165 would call for 162.9 and 161.5.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 164.342 and 161.275).

Supports and resistances

174.9 **

173.4 *

172 **

170.7

167.64 (USD-last)

166

165 **

162.9 *

161.5 **

Number of asterisks represents the strength of support and resistance levels.