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.

Note - Automated Content Created By TradersHuddle's Technical Scanner




Related Partner Headlines

    Volatile market? That's when profit potential skyrockets for options traders. Now you can get up to 50 trade opportunities a week from top options experts -- plus much more -- on our exciting new site OptionsProfits. Try it FREE!

    TradersHuddle Search

    Stock Search:


    Site Search:

    Loading

    Technical Scans

    Recent Trading Ideas

    Latest Partner Headlines

    Stock Market

    Loading
    Chart
    o Dow Jones 16,982.59 0.00 (0.00%)
    o S&P 500 1,978.91 0.00 (0.00%)
    o NASDAQ 4,444.91 0.00 (0.00%)
    INDEXDJX:.DJI

    Dow Jones

    Company ID [INDEXDJX:.DJI] Last trade:16,982.59 Trade time:4:31PM EDT Value change:0.00 (0.00%)
    INDEXSP:.INX

    S&P 500

    Company ID [INDEXSP:.INX] Last trade:1,978.91 Trade time:4:31PM EDT Value change:0.00 (0.00%)
    INDEXNASDAQ:.IXIC

    NASDAQ

    Company ID [INDEXNASDAQ:.IXIC] Last trade:4,444.91 Trade time:5:15PM EDT Value change:0.00 (0.00%)

    In The Wires

    Copyright © 2013 TradersHuddle.com. All Rights Reserved.