We looked at the charts of PG a week ago, when someone asked about the company during the 'Lightning Round' and we found that "Without a top formation or signs of liquidation or distribution, I suspect that PG will move still higher in the months ahead. In the short run I would look for some sideways price action. This sideways action could be used to build a long position."
In this daily bar chart of PG, below, we can see that prices are holding steady but below the cresting 50-day moving average line. The 200-day moving average line is still very bullish and rising.
The daily On-Balance-Volume (OBV) line looks like it has begun to turn higher again and the Moving Average Convergence Divergence (MACD) oscillator is below the zero line but it has begun to narrow towards a cover short buy signal.
In this weekly bar chart of PG, below, we can see that the rising 40-week moving average line has done a great job of defining the uptrend that PG has taken to the upside.
The weekly OBV line is very bullish and the MACD oscillator has made a tiny take profits crossover signal.
In this Point and Figure chart of PG, below, we can see that a trade at $124.93 will refresh the uptrend.
Bottom line strategy: I have no clue about PG's earnings but the charts and indicators look positive to me ahead of the quarterly numbers. Hold recent longs and consider adding to positions on strength above $121.