Procter & Gamble Co PG shares are trading higher by $2.89 (3.5 percent) at $87.59 in Friday's session. The catalyst for the 3 percent rally is a Q4 EPS beat of $0.02 along with a slight revenue beat.
After a much higher open, it retreated $0.47 to $86.42 before resuming its move higher. It has continued to make new highs for the day as the current one stands at $87.64. That high is just shy of its November 8 high of $87.69, as well as its October 26 high of $87.74.
If the rally continues beyond those levels, there may some institutional sell orders at the $88.00 level, which coincides with its October 25 high of $88.08.
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