It’s time to get into the deal at a good price!

Investment idea: “The consumer giant is weakening to resume the growth! Connect!”  is waiting for an earnings report!

Procter & Gamble shares were under significant correction pressure against the background of correction positions before the upcoming earnings report and the general collapse of stock indices.

As it was mentioned in the investment idea, the main risk factor was the collapse of the DOW 30 stock index, which includes Procter & Gamble shares, followed by the majority of shares of large companies. The driver of the collapse of stock markets was the risks of slowing the global economy.

Fig. 1. DOW30 chart

 

At the same time, Procter & Gamble shares are limited to a corrective movement, and further growth is limited to an area of 81.50-82.50, that allows to enter a buy transaction at a favorable price. The factor indicating the preservation of the potential to strengthen these shares is the formation of a reversal and the expectation of an optimistic earnings report, which will be released this week (19.10).

Fig. 2. Procter & Gamble shares chart

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