The double bottom holds, but the picture stays cautious
Procter & Gamble slips 1.7%, yet the double bottom in the 144 area holds: earnings land July 29th
The double bottom holds, but the picture stays cautious
Our view last week
Procter & Gamble shares bounce 2% this week and break the previous week's weakness, off a clean double bottom in the 142 area with a 10% intermediate rebound. Under the surface, though, volume isn't convincing: daily money flow stays negative and buyers made up only 13% of the session's turnover. The stock is in its fourth week of a buy signal, with signal strength at 41 out of 100: this week's technical analysis calls for caution.
This week's summary
Procter & Gamble stock slips 1.7% this week but carves out a clean double bottom in the 144 area, with a 6% intermediate rebound. Under the surface the picture stays uncertain: candle bodies are losing conviction and sellers were slightly prevalent in the latest session, while the weekly MACD keeps deteriorating. Earnings land this very week, on July 29th: a potential jolt to an already fragile technical setup.
IQS Phase
42
ordinary
Signal Strength
47
medium · weak
Sizing
REDUCED
Ranking
#73 / 124
US stocks in progress
Trade P&L %
-1.97%
from signal to today
Rank position
ranks 73rd among the 124 Longs already running for US stocks in our ranking, with a signal strength of 47 out of 100.
Sector context
SectorDefensive Staples
Benchmark ETFXLP
Sector regimeweak phase
Performanceweekly -1.24% · monthly -0.37%
PG belongs to the defensive staples sector (reference ETF XLP). The sector is classified weak phase according to our weekly reading.
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