The shares of The Procter & Gamble Co., one of the leaders in the consumer goods market, are correcting at 168.00.

On the daily chart, the price is trading within an ascending channel with dynamic boundaries of 174.00–161.00, consolidating near the year’s high.

On the four-hour chart, the quotes could not break the extreme of 169.50 but have not yet reversed downwards. After consolidation below the low of 166.00, the price may reach the channel support line 161.00.

Technical indicators strengthen the buy signal: fast EMA on the Alligator indicator are moving away from the signal line, and the AO histogram has formed the first ascending bar above the transition level.

Trading tips

Long positions may be opened after the consolidation above 169.20, with the target at 174.50. Stop loss is 167.00. Implementation period: 7 days or more.

Short positions may be opened after the consolidation below 166.70, with the target at 161.20. Stop loss is 169.00.