Procter & Gamble may fall to 154.90 - 156.50

Our pivot point is at 165.

Our preference

Target 156.5.

Alternative scenario

The upside breakout of 165 would call for 167.7 and 169.4.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the stock is below its 20 day moving average (165.5865) but above its 50 day moving average (161.8666).

Supports and resistances

169.4 **

167.7 *

165 **

163.8

162.58 (USD-last)

158.1

156.5 **

154.9 *

153.1 **

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