Procter & Gamble Stock Could Rally
| Jan 19, 2022 04:51AM ET
When we look at the Procter & Gamble (NYSE:PG) chart, we can see it trading in a channel between the resistance of $160 and support of $157.5.
There was a retraction from the $160 to the $156 breaking the $157.5 support at yesterday's opening. It was last found trading at $156.75.
Procter & Gamble will announce its quarterly earnings today. If earning expectations are surpassed, we could expect the price to move upwards, towards the $160 price level.
Today we can expect a move close to the $157.5 most immediate overhead resistance level and possibly further.
If, however, it does not manage to hold on to the current level, then a move below the $156 closest support can be expected.
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