PG Sets up for bullish reversal
PG has been one of a few stocks in the S&P 500 to make double-digit percentage increase in 2024, and in doing so has stuck to a very clear trend pattern. It just recently finished with its most recent dip and is preparing to climb through August/September until it slows down once again.
The trend pattern on this stock has been quite clear and stable in the past two cycles and is currently bouncing off of the lower support line thats been tested four times since December 2024.
Price shocks to P&G like their upcoming earnings have historically had only a positive effect, even despite negative surprise on the their Revenue:
Fri 19 Apr '24
Earnings: 7.28% up
Revenue 1.17% down
Up 7% by the end of the week
Tue 23 Jan '24
PG
Earnings: 0.143% up
Revenue 0.16% down
up 8% by end of the week
I Personally am entering with $165 calls expiring 8/9/24 @ $2.58 a piece. I will continue to update this as I approach exp.
NOT TRADING ADVICE JUST MY PERSONAL OPINION
The trend pattern on this stock has been quite clear and stable in the past two cycles and is currently bouncing off of the lower support line thats been tested four times since December 2024.
Price shocks to P&G like their upcoming earnings have historically had only a positive effect, even despite negative surprise on the their Revenue:
Fri 19 Apr '24
Earnings: 7.28% up
Revenue 1.17% down
Up 7% by the end of the week
Tue 23 Jan '24
PG Earnings: 0.143% up
Revenue 0.16% down
up 8% by end of the week
I Personally am entering with $165 calls expiring 8/9/24 @ $2.58 a piece. I will continue to update this as I approach exp.
NOT TRADING ADVICE JUST MY PERSONAL OPINION
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