PG is setting up well for a fresh rally leg. The stock has been trading in a narrow range since the beginning of April. This mornings PG is trading above the top of this consolidation and is heading for its best weekly close of 2021. It will be telling if the stock can maintain this divergent strength through the remainder of the day.
PG has solid support underneath. The 50D moving average is crossing above the 200D. Daily MACD is working on a bull cross this month and is far from overbought. We expect more upside in the near term. A retest of the 2020 peak($146) is well within reach. On the downside, a close back below $134.00 area would be a clear warning sign that more sideways action is ahead.
PG, a Dividend King: Move Over, Aristocrats. Meet the Dividend Kings. – MarketWatch
Earnings due 7/30/AM
Long PG in some managed accounts.