PG 1 Month, Potential Short Opportunity Developing
PG, Proctor & Gamble recently hit an all time high. It is over extended in the top of the Murrey and was flagged by a Spectro Volatility Omega Alert in the previous candle. MACD is has reversed and Spectro O, tracking volume on a BB Fibonacci Scale is also showing the beginning of a reversal in the overbought zone. Spectro Cloud is also showing a predictive reversal zone near the $90 range as a conservative low swing. This may not be the precise entry point, but is an asset to keep an eye on for an opportunity to short in the near future.
Spectro M has not confirmed the down move yet on candle/price action, but it may be near. Lower time frames suggested for precise entry. TIght stops should be employed, as the overall PG sentiment is strong and it is a fundamentally diversified company with many arms in the umbrella. Where PG deals in a lot of home care and staple goods, my thought is that it may bode stronger than other assets, should the overall index recede.
PG
Analysis by Alchemist LA
Spectro M has not confirmed the down move yet on candle/price action, but it may be near. Lower time frames suggested for precise entry. TIght stops should be employed, as the overall PG sentiment is strong and it is a fundamentally diversified company with many arms in the umbrella. Where PG deals in a lot of home care and staple goods, my thought is that it may bode stronger than other assets, should the overall index recede.
PGAnalysis by Alchemist LA
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