Close to Key Levels: Procter

New York, August 30th (TradersHuddle.com) - Procter & Gamble Co. (NYSE:PG) closed the trading day at $77.31, near its 50 day and 200 day moving averages set at $79.72 and $76.10 respectively. Procter's price action placed the stock above the 200 day moving average but below its 50 day moving average, a setup that signals a possible break out.

Procter & Gamble Company (NYSE:PG), a global consumer products company manufactures and markets its products in countries throughout the world. The Company provides products in the laundry, beauty care, food and beverage, and health care segments. Some of P&G famous brands are Gillete, Tide, Head & Shoulders, and Crest. Proctor & Gamble's products are sold primarily through mass merchandisers, grocery stores, membership club stores, and drug stores. The company uses a diversified distribution channel, it was founded in 1837 as a candle company, and its headquartered in Cincinnati, OH.

Procter seems to be setting up for a tight range between the 200 day moving average as support and the 50 day moving average serving as resistance.

A tiered approach, appears to be the best strategy to maximize possible movements in the stock, as traders could establish a small position in Procter and wait for the stock to break out above its 50 day moving average at $79.72. Then they could add to the position as momentum builds with the breakout. On the flip side, if support being referenced at the 200 day moving average set at $76.10 breaks, it could signal further downside pressure for Procter.



Related Articles

    Related Partner Headlines

      You could minimize risk by trading in stock sectors rather than individual stocks. Find out why ETFs are the hottest investment vehicle on the planet. Try ETF Profits for FREE NOW!

      TradersHuddle Search

      Stock Search:


      Site Search:

      Loading

      Technical Scans

      Recent Trading Ideas

      Latest Partner Headlines

      Stock Market

      Loading
      Chart
      o Dow Jones 18,232.02 ▼53.72 (-0.29%)
      o S&P 500 2,126.06 ▼4.76 (-0.22%)
      o NASDAQ 5,089.36 ▼1.43 (-0.03%)
      INDEXDJX:.DJI

      Dow Jones

      Company ID [INDEXDJX:.DJI] Last trade:18,232.02 Trade time:4:32PM EDT Value change:▼53.72 (-0.29%)
      INDEXSP:.INX

      S&P 500

      Company ID [INDEXSP:.INX] Last trade:2,126.06 Trade time:4:32PM EDT Value change:▼4.76 (-0.22%)
      INDEXNASDAQ:.IXIC

      NASDAQ

      Company ID [INDEXNASDAQ:.IXIC] Last trade:5,089.36 Trade time:5:15PM EDT Value change:▼1.43 (-0.03%)

      In The Wires

      Copyright © 2013 TradersHuddle.com. All Rights Reserved.