PG Elliott Wave Analysis Trading Lounge Daily Chart, 1 March 24
Welcome to our PG Elliott Wave Analysis Trading Lounge, your ultimate destination for detailed insights into The Procter & Gamble Company (PG) using Elliott Wave Technical Analysis. As of the Daily Chart on 1 March 24, we dive into crucial trends shaping the market.
The Procter & Gamble Company, (PG) Daily Chart Analysis
PG Elliott Wave Technical Analysis
FUNCTION: Trend
MODE: Impulse
STRUCTURE: Motive
POSITION: Minuette wave (ii) of {iii}.
DIRECTION: Bottom in wave (ii).
DETAILS: As we are approaching ATH at 165$, we are expecting either an acceleration higher into wave (3) or else we could have topped in wave (C) to then fall back lower and continue the major correction.
In terms of wave dynamics, we identify a trend function with an impulse structure, specifically a motive pattern. The current position is in Minuette wave (ii) of {iii}, indicating a potential bottom in wave (ii). With the approaching all-time high (ATH) at $165, we anticipate either an upward acceleration into wave (3) or a potential top in wave (C), followed by a downward movement to continue the major correction.
PG Elliott Wave Analysis Trading Lounge 4Hr Chart, 1 March 24
The Procter & Gamble Company, (PG) 4Hr Chart Analysis
PG Elliott Wave Technical Analysis
FUNCTION: Counter Trend
MODE: Corrective
STRUCTURE: Zigzag
POSITION: Wave a of (ii).
DIRECTION: Downside into wave (ii).
DETAILS: Looking for a clear three-wave move into wave (ii) to find support around the 155$ mark.
Here, we explore a counter-trend mode with a corrective structure, specifically a zigzag pattern. The present position is in Wave a of (ii), suggesting downside movement into Wave (ii). We anticipate a clear three-wave move into wave (ii), aiming to find support around the $155 mark.
Technical Analyst: Alessio Barretta
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