The shares of The Procter & Gamble Co., one of the leaders in the global consumer goods market, are trading in a correction trend at 172.00.

On the daily chart, the price is moving within an ascending channel with dynamic boundaries of 182.00–168.00, having retreated from the support line.

On the four-hour chart, the quotes can reach a high of 177.00 and then the resistance line of the channel at 182.00. However, if the asset consolidates below the low of 166.00, downward dynamics may develop.

Technical indicators hold the buy signal: fast EMAs on the Alligator indicator are slightly above the signal line, and the AO histogram has formed an ascending bar below the transition level.

Trading tips

Long positions may be opened after the price rises and consolidates above 174.00, with the target at 182.00. Stop loss is 170.00. Implementation period: 7 days or more.

Short positions may be opened after the price falls and consolidates below 170.00, with the target at 161.00. Stop loss is 174.00.