Support & Resistance Analysis: Proctor & Gamble

Since catapulting almost nine points from the beginning of the year, the PG chart is starting to look “tired”.  After making an all time high at 77.76, one or several major institutions have targeted the 77.50 level as an exit point.  Every time the stock approaches that level, it is met with major resistance.  

The buyers are becoming exhausted with their attempts to take out the 77.50 level, and the stock has slumped over a point in the past two trading sessions.  Investors should take note of today’s low, as well as the 75.56 low on March 1st.  If that area is breached, PG could easily trade down to the 75 level which could induce a much deeper correction.

Here are the key levels to focus on:

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