The Procter & Gamble Co. (PG) is due to release their numbers tomorrow. Let's see what the charts are doing.
In this daily bar chart of PG, below, we can see a strong and durable uptrend from October. There is a dip in December as the broad market bottomed but the pullback is at a higher low than October which speaks to its strength.
Prices are above the rising 50-day and 200-day moving average lines.
The daily On-Balance-Volume (OBV) line has risen with the price action and tells us that buyers of PG have been more aggressive with more volume traded on days when the stock has closed higher.
Recently we can see some slowing in the momentum. The 12-day momentum study in the bottom panel shows a lower high from June to July even as prices make a higher high. This is a small bearish divergence.
In this weekly bar chart of PG, below, we can see the past three years of action. We have a sideways consolidation pattern, a dip in late 2017 and early 2018 followed by an impressive rally. Prices are above the 40-week moving average line.
The weekly OBV line has been moving up with the price action but recently it has not kept up with the new highs suggesting that the bulls may be losing conviction.
The two moving averages that make up the Moving Average Convergence Divergence (MACD) oscillator have narrowed which can foreshadow a bearish crossover.
In this first Point and Figure chart of PG, below, we look at daily data and we can see that prices have overshot a projected price target of $107.
In this second Point and Figure chart of PG, below, we look at weekly price data and a target of $133 is being projected.
Bottom line strategy: While the daily charts of PG indicate some slowing of the uptrend, the weekly charts are still bullish. Traders might want to be a little cautious ahead of earnings tomorrow but longer-term investors should be in good shape.