Bearish DailyPlay for Tuesday May 15th, 2018 – Proctor & Gamble (PG)
The bearish DailyPlay we chose for Tuesday, May 15th is Proctor & Gamble (PG). PG is part of the Consumer Staples Sector (XLP). Over the last month, XLP has experienced a 5.84% move lower and its 1m and 6m trend have turned bearish on 4/19 and recently bounced lower off its $50 resistance level.
Proctor & Gamble’s 1m and 6m trends turned bearish on 4/19 and recently bounced lower off its $74 resistance level. With a technical score of 2 (out of 10), PG is a weak stock that will likely trend lower.
As a stop loss, if PG was to trade above $74 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
Webinar: Using Technical Analysis w/ Options Trading Register Now!