AI
Monday, April 23, 2018 12:35:46 PM
Shares of Procter & Gamble Co (NYSE: PG) continue to fall lower after poor quarterly results. The stock is now nearing major support at $70.00 from a high of over $90 in early January 2018. This epic fall is overdone and due for a major technical bounce. There is a major support trend line that can be found by connecting the lows going back to 2011 (note the chart below). Big money is looking to accumulate in the $70 range for a trade back to $75-$80. Valuation is also extremely attractive at the $70 level. It is rare to get a blue chip company at such a steep discount to where it traded just a couple months ago.
Gareth Soloway
InTHeMoneyStocks
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