Before I share a trading idea that is on my radar, I want to say that I am very excited to be part of the See It Market family. I am honored to be here and hope to share a different, and valuable, charting perspective based on my PivotalPivots methodology.
Now on to the charts.
No matter what the trading environment, there are always “risk-managed” trade ideas on both the long and short side of the tape. You just have to do your homework.
One of the stocks that we are short-term bullish on at PivotalPivots is Procter & Gamble stock (PG). The past few weeks the stock price has found strong support on the Yearly S2 pivot point. I think the price could go all the way back up to the Yearly S1 pivot at $79.60 by the end of this year. Note that Procter & Gamble stock is also a defensive name (selling consumer goods that people need) so it may continue to show relative strength even in a choppy trading environment.
That said, I would recommend a stop on a close below the Yearly S2 pivot at around $68. Stops keep active investors in the game.
Procter & Gamble (PG) Pivot Chart
Thanks for reading and have a great weekend.
Twitter: Â @mpgtrader
Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
