Procter & Gamble inverse head and shoulders

29 July 2022 362
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An inverse head and shoulders pattern has formed in Procter & Gamble's stock price daily chart. The company will release fourth-quarter fiscal 2022 year results today before market open. The market expects Procter & Gamble to increase earnings year-over-year due to revenue growth. If the report justifies the analysts’ consensus estimate, we expect the further neckline breakout and a move towards 151.2. Otherwise, a correction to the 38.2 Fibonacci level is possible.

This content is for informational purposes only and is not intended to be investing advice.

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