- 1 The year-to-date return of Procter & Gamble Company. is 2.25% while the three-month return is 6.80%
- 2 Procter & Gamble ( PG stock ) price trades above the 20, and 50-day daily moving average, buyers are dominating over sellers, and the price is near key resistance.
- 3 Procter & Gamble Company ( NYSE: PG) stock’s 52-week price range is around $122 – $158.
PG stock price was at $154.34 with an intraday increase of 0.19%. Moreover, the intraday trading volume of PG is 5.451 Million more than the 10-day aggregate volume of 4.655 Million. The stock has a market cap of $363.763 Billion. Analysts gave a strong buy rating with a yearly target price of $179, suggesting a growth outlook for future sessions.
The PG stock (Procter & Gamble) continues to show bullish momentum in the uptrend above the key moving averages. However, the share price has recently shown some signs of weakness in the trend. On the daily charts, PG stock is in the bullish zone and has maintained the uptrend above the 20 and 50-day EMAs.
According to the price action, it seems that the PG stock is ready for a significant increase, with potential growth in price for the upcoming sessions. Buyers are actively trying to keep these levels, showing their dedication to the stock’s upward direction.
PG stock has been rising since the beginning of 2023 and has shown buyer accumulation. The stock encountered a barrier near the supply range and fluctuated as a result of the previous sessions.
Based on recent data, the revenue of Q2, 2023 was $20.553 Billion with a net income of 3.38 Billion. Moreover, the PG stock estimated EPS for Q2’ 23 was 1.32, and the reported EPS was 1.37 which gave a positive surprise of 3.53%. Moreover, the forecasted EPS for the next quarter is positive at 1.72.
Vanguard Group Inc. is the top shareholder of PG stock and owns 9.54% of the company, with a current value of $34.7 Billion and a total PG share count of 224,950,896. Moreover, the recent insider transactions of Procter & Gamble Company, in the last three months sold a hefty amount of PG shareholding in the household products company. Nearly 20 individuals sold nearly 92,236 shares, worth $14.1 Million (approx.), from 1st to 30th August. This is as per the financial website, Simply Wall St.
PG Stock Price Technical Analysis in 1-D Timeframe
As per price action, PG was in a bullish trend from October last year even before 2023 started. The PG price found support around $122 and was strongly bought as it was available at a discount. From the low of $122 to the high of $158, the journey was zig zag and upwards, the high was reached by August 10th, 2023. Moreover, the price spent a fair amount of time on Fibonacci levels of 61.80%, 50.00%, 38.20%, and 23.60% and stepped up smoothly from these Fibo levels.
As per the CMP $154.34 (at press time), the price faced some resistance and dropped to the 23.60% level and bounced back upwards. Moreover, it is observed that the stock is bought, on most of the quarter reports.
The current stock price of PG stock might achieve more, there is a possibility for the price to move toward the next resistance level of $157 and $160.
On the other hand, if the price breaks below the $151 significant support level, it might fall toward $146 and beyond.
At the time of publishing, Procter & Gamble Company. (NYSE: PG) is trading above the 20, and 50 EMA. RSI is around 53, turned bullish as it took 14 SMA support and MACD narrowed on each other and a bullish cross is expected next.
The PG stock price has risen above $151 to regain bullish momentum and if it holds then it might potentially break the annual high of $158. Technical parameters for PG also support the increase in bullish momentum. Procter & Gamble Company (NYSE: PG) stock prices are bullish on the 1-D time frame as indicators turned bullish. The traders and investors also suggest positive buying sentiments.
Support levels: The nearest support levels for PG price are $151 and $146.
Resistance levels: The nearest resistance levels for the PG stock price are $157 and $160.
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.