Procter & Gamble (PG) has been in rally mode since early May. Prices are now firmly above the rising 50-day moving average line as well as the bullish 200-day line.
The daily On-Balance-Volume (OBV) line has also been strong from early June and this tells us that buyers of PG have been aggressive.
The trend-following Moving Average Convergence Divergence (MACD) oscillator has spent most of its time since June above the zero line in bullish territory.
In this weekly bar chart of PG, below, we can can see a number of trends.
First we have an upward sloping channel. Then a steep downtrend followed by an equally steep uptrend.
The weekly OBV line has trended up and down with the price action and recently made new highs.
The weekly MACD oscillator is bullish.
In this Point and Figure chart of PG, below, we can see the breakout at $90.86 and a potential price target of $113.14.
Bottom line strategy: PG has been showing independent price strength and my targets are $100 and then $113. Risk below $89.