PG Stock Price: EMAs are Killing the Glimmer of Hope for Bulls

The Procter and Gamble (NYSE: PG) stock uptrend has catered a lot of attention from investors, but is it worth it for the long term? A stock’s actual worth is reflected upon how well the company performs on a fundamental basis. Looking at the recent quarter results of this firm, let’s see if it’s worth investing in.

Financial Snapshot for the Latest Quarter

Procter and Bet (NYSE: PG) announced $21.9 billion in net sales for the primary quarter of the start of this financial year 2024. It also showed a growth of 6% from a year ago. Furthermore, the Healthcare segment of their business grew by 10% when compared to the last year while the Beauty segment grew by 5% in the same duration. Moreover, the anticipated growth for net earnings per share in fiscal 2024 fell within the range of 6% to 9%.

The diluted net earnings per share clocked to $1.83, showing a growth of 17% from the previous year. This standpoint compares to a scope of $6.25 to $6.43 per share in the short-term future. This company revealed its operating cash income of $4.9 billion and returned $3.8 billion to investors through common stock repurchases and Dividends.

The Optimistic Management

The management has been very optimistic. Jon Moeller, Chairman of the Board, President, and Chief Executive Officer, expressed his satisfaction. He stated that he stands along with the company’s performance in the first quarter of fiscal year 2024, stating further that it puts them on track to deliver towards the higher end of their fiscal year guidance ranges for organic sales and core EPS growth.

Technical Analysis and Prediction of the PG Stock Price

At the press time, PG stock price has reclaimed its support level from its immediate support of $142. However, the bulls are facing significant resistance from the 50-day and the 150-day exponential moving averages. Past these levels, the immediate resistance is at $152.

Looking at the current rejection, it is likely that the PG stock price will go back to its immediate support level before the bulls can make another attempt to break the resistance. The RSI, on the other hand, is at 50 while its SMA is down at 37, which again indicates some correction to fill the gap.

Conclusion

Procter and Gamble Co (NYSE: PG) has delivered optimal growth in the latest quarter. The sales have increased while the Earning per share has also been increased. The major segments of the firm have seen close to double-digit growth. The current price is facing rejection from the EMAs. It is possible that the stock will take a bounce from its support level.

Technical Levels

Support: $142, and $136
Resistance: $15, and $157

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 in stocks or related indexes comes with a risk of financial loss.