Black line- support trend line
At the end of September we warned traders that PG stock price was vulnerable to a move towards $124-125. Price was breaking to new 2022 lows in a weekly bearish trend. Price has now reached the key upward sloping support trend line. The weekly RSI is negatively sloped and we expect at least a brief break below the trend line support. Failure to stay above the trend line over the next couple of weeks will be a sign of weakness. At $121.50 we also find the horizontal support from the 2021 low. A break below that level would be an added bearish signal.
