Current trend

Shares of The Procter & Gamble Co., one of the leaders in the consumer goods market, are adjusting at 167.00.

Yesterday it became known that the current executive director of the child and family care business, Fatima De Vera Francisco, was appointed to the board of directors of the technology company Hewlett-Packard Co. Despite this, Francisco will continue her 35-year career at The Procter & Gamble Co., as concurrent service is a common practice for public companies in the United States.

On July 30, the company will publish a financial report for the second quarter, which may reflect revenue of 20.81 billion dollars, exceeding 20.6 billion dollars over the same period a year earlier. Earnings per share (EPS) are expected to reach 1.37 dollars, the same as last year's figure.

The date of the new dividend payment has not yet been set, but it is already known that its amount will be 1.0065 dollars per share, which corresponds to a 2.56% quarterly yield. The payout itself increased from 0.9407 dollars a year earlier, and the yield grew by about 0.10%.

Support and resistance

On the D1 chart, the asset is trading in a corrective trend, forming an ascending channel with boundaries of 172.00–159.00.

Technical indicators hold a strengthening buy signal: fast EMAs on the Alligator indicator move away from the signal line, and the AO histogram, growing in the purchase zone, forms bars with a tendency to increase.

Support levels: 165.30, 161.30.

Resistance levels: 168.60, 174.00.

Trading tips

If the global growth of the asset continues and the price consolidates above the resistance level of 168.60, one may open long positions with the target of 174.00 and stop-loss of 166.00. Implementation time: 7 days and more.

If the global decline of the asset continues and the price consolidates below the support level of 165.30, one can open short positions with the target of 161.30 and stop-loss of 167.00.