PG – clients should consider starting to sell PG at 121; up 2.3% from TUE 3/3/20’s close (S&P500 future are up 2.35%). PG fell below its 100DMA in February for the first time in 15 months. The 100DMA has been a steady marker for PG’s uptrend and has been support each time PG made any type of short term decline. That pattern came to an end in February as PF plummeted through the old support line. PG has now rallied and is closing in on the old support/100DMA, which should now be resistance. The 100DMA is also declining for the first time since July of 2018; another signal that the trend is changing direction. Long term support for PG is far below last sale at the 2018 breakout level in the low to mid-90’s.
PG PROCTER & GAMBLE 121.0000* Stop = 127.6550 Target = 96.8000