Procter & Gamble Co: If PG Stock can do THIS, it will Skyrocket
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Procter & Gamble Co: If PG Stock can do THIS, it will Skyrocket

Procter & Gamble Co: If PG Stock can do THIS, it will Skyrocket

  • Buz Social Trader PG Stock can do THIS, it will Skyrocket Dividends are a compelling investment theme in a world where negative interest rates exist. Investors are continuously trying to reach for yield,and this tailwind has caused dividend stocks to be among the best-performing stocks.
  • I was once someone who swore against them, as I thought they were boring and uneventful. Boy, was i wrong. Procter & Gamble Co (NYSE:PG) stock is a name
  • I am quite enamored by the Procter & Gamble stock chart, as the price has just hit a key technical level. This key level will act to turn back PG stock, or it will give way and PG stock can surge to a new all-time high. It is the prospect of new all-time highs that has me drawn to this name.

PG Stock can do THIS, it will Skyrocket 

Procter & Gamble Co: If PG Stock can do THIS, it will Skyrocket

PG Stock can do THIS, it will Skyrocket  I consider myself a “chartist,” meaning I like to paint pictures on charts using trend lines. Trend lines are by far my favorite and most important tool. The uptrend on the chart above represents the short-term bull market in PG stock that developed after shares bottomed in August 2015. This uptrend is created by connecting the valleys on the price chart. An uptrend can be easily identified,  as the price moves from the lower left to the upper right of the chart.
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PG Stock can do THIS, it will Skyrocket

 

The indicator in the lower panel labeled “MACD” serves as a momentum indicator. Moving average convergence divergence (MACD) is a simple and effective trend-following momentum indicator, Signal line crossings are used to distinguish between bullish and bearish signals. This signal is produced on a monthly scale and serves to smooth out the signal and helps define the longer-term trend.  In March, this signal crossed in a bullish manner, indicating that the bullish momentum is outpacing bearish momentum, and that the bulls are in full control.

The price is currently sitting at resistance, and I do not expect this level of resistance to be broken on the first attempt. When the share price finally gathers enough momentum to break out above this resistance level, it would mark a new all-time high for Procter & Gamble stock. New all-time highs are indeed a special event. Investors who are long are all sitting in profit territory, and all of the short sellers are sitting with losses. These short sellers must cover their position at some point or the losses will continue to mount. This event is known as a short covering rally and it helps to further fuel the rally. It is not uncommon for such events to push shares higher than many would have speculated.

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Jadtecnic
Richard Dambrosi (JADTECNIC) Has Been Sharing Forex Analysis Trending Markets News since 2011. Editors and Founder of InvestorsBuz.com , has a passion for Forex Social Sharing analysis and Market Trends Such as Self Driving Cars , Electric Cars, Medical Marijuana , 3d printing and Cloud computing , Refers to Readers as BUZ INVESTORS.

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