PG Stock Good For Long-Term Pick?

Procter and Gamble Co. PG stock price performed well in the past few months and hit a 52-week high at $158.38. It formed a bullish continuation pattern and buyers succeeded in sustaining the higher levels.

PG stock price sustains above the 200-day as well as 50-day EMA showcases uptrend. Previously, the short-term retracement had gotten absorbed near to the 50-day EMA, and prices showed a strong bounce.

At the beginning of August, Procter and Gamble stock price tried to break the $158.00 hurdle. The attempt was, however, not successful and the price witnessed minor profit booking.

The price of PG shares retraced down to the EMA and buyers are trying to push the price upwards. Presently, the PG stock is stuck in a narrow range between $151.00 to $156.00.

The next direction of the stock will be visible after the breakout of either side of the range. As of now, the buyers are more active as compared to sellers so the probability of the upward range expansion is high.

Procter and Gamble stock price closed the previous session at $153.09 with an intraday rise of 0.70%. The market capitalization stands at $360.82 Billion.

Will PG Stock Price Rally to $165 by 2023 End?

PG stock price stays bullish for the long-term investment. The consumer goods segment is expected to perform well even if inflation rises.

PG holds the highest market share in the U.S. as compared to the other consumer goods companies. Therefore, if the FMCG sector in the U.S. performs well, then PG shares may be impacted positively.

Till the PG stock price sustains above $148.00, the trend is expected to remain upward. Any short-term downfall will provide well for the investors to accumulate at lower levels.

The analysis suggests that if PG stock breaks $158.00, then it may begin the journey to reach $165.00.

Volatility in Procter and Gamble Stock Price is Low

Procter and Gamble stock price is bullish on a multiple time frame. The volatility in the stock is quite low but it is expected to continue the upward momentum gradually.

On the higher side, $158.00 will act as an immediate hurdle for the bulls. If the stock faces rejection from $158, then it is expected to continue the consolidation in the current range.

The MACD curve sloping sideways denotes that the price might spend some more time in consolidation. Also, the RSI at 48 denotes neutral territory and a balance between bullish and bearish positions.

Conclusion

Procter and Gamble Co. PG stock price performed well in the past few months and remains a viable option for long-term investment.

The analysis suggests that if the buyers succeed in breaking the $158.00 hurdle, then PG shares may rally to $165.00 by the end of this year.

Technical Levels

Resistance levels: $158.00 and $165.00
Support levels: $148.00 and $142.00

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.