empty
10.10.2022 02:18 PM
PG stock price challenges major trend line support.

This image is no longer relevant

Black line- support trend line

At the end of September we warned traders that PG stock price was vulnerable to a move towards $124-125. Price was breaking to new 2022 lows in a weekly bearish trend. Price has now reached the key upward sloping support trend line. The weekly RSI is negatively sloped and we expect at least a brief break below the trend line support. Failure to stay above the trend line over the next couple of weeks will be a sign of weakness. At $121.50 we also find the horizontal support from the 2021 low. A break below that level would be an added bearish signal.

Summary
Urgency
Analytic
Alexandros Yfantis
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Stock Market on August 4: SP500 and NASDAQ plunge

At the close of trading yesterday, US stock indices ended in the red. The S&P 500 fell by 1.60%, while the Nasdaq 100 dropped by 2.24%. The Dow Jones Industrial

Jakub Novak 10:50 2025-08-04 UTC+2

S&P 500 Forecast for August 4, 2025

A divergence has formed on the monthly chart of the S&P 500. The entire growth of the index from March 2020 to July 2025 fits neatly into the Fibonacci grid

Laurie Bailey 05:01 2025-08-04 UTC+2

US stock market poised to pull back after three months of steady rally

July ends with another victory for the bulls: the S&P 500 closed higher for a third consecutive month, reaching a new all-time high at 6,427. But the triumph feels tainted

Anna Zotova 12:39 2025-08-01 UTC+2

US stock market on August 1: S&P 500 and NASDAQ extended their decline

US stock indices ended lower again yesterday, with the S&P 500 falling by 0.37% and the Nasdaq 100 slipping by 0.04%. The Dow Jones Industrial Average dropped by 0.43%. Global

Jakub Novak 10:37 2025-08-01 UTC+2

Stock market as of July 31: S&P 500 and Nasdaq hold ground

At the end of the previous trading session, US stock indices closed mixed. The S&P 500 slipped by 0.12%, while the Nasdaq 100 gained 0.15%. The industrial Dow Jones declined

Jakub Novak 10:06 2025-07-31 UTC+2

Bank of Japan meeting and three more signals you can't afford to miss this week

Global markets are overwhelmed by turbulence: investors are weighing the risks of a renewed plunge in the yen amid political uncertainty and the upcoming Bank of Japan meeting. Meanwhile, Brent

Аlena Ivannitskaya 13:22 2025-07-30 UTC+2

US equities: overbought territory or new normal?

While the US stock market pulls back from another all-time high, the Buffett indicator continues to set fresh records. To recap, Warren Buffett's indicator reflects the ratio

Jakub Novak 10:48 2025-07-30 UTC+2

Stock market on July 30: SP500 and NASDAQ continue their corrections

US stock indices ended last Friday in decline. The S&P 500 dropped by 0.30%, and the Nasdaq 100 fell by 0.30%. The Dow Jones Industrial Average lost 0.46%. Asian equities

Jakub Novak 09:24 2025-07-30 UTC+2

Update on US stock market on July 29. SP500 and NASDAQ going through correction

US stock indices closed mixed last Friday. The S&P 500 inched up by 0.02%, while the Nasdaq 100 added 0.33%. The industrial Dow Jones declined by 0.14%. Asian stocks have

Jakub Novak 09:28 2025-07-29 UTC+2

Stock market on July 28: S&P 500 and NASDAQ set fresh all-time highs

Last Friday, US stock indices closed higher. The S&P 500 rose by 0.40%, while the Nasdaq 100 added 0.20%. The Dow Jones Industrial Average strengthened by 0.47%. The record-breaking rally

Jakub Novak 09:29 2025-07-28 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.