Procter & Gamble ( PG ) Looking To Reach Extreme From The Peak

The Procter & Gamble ticket symbol: PG is a company focused on providing branded consumer packaged goods to consumers across the world. The Company operates through five segments: Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care. The Company sells its products in approximately 180 countries and territories primarily through mass merchandisers. Grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores, and pharmacies. We will look at the Elliott wave view for PG below:

PG Weekly Elliott Wave Chart

Above is the Weekly time frame Elliott wave chart of PG. In which, the stock is correcting the cycle from April 2018 low. So far the decline from the 21 January 2022 peak is unfolding as an Elliott wave double three structure where the first leg ended in the wave w at $129.50 low. Up from there, a bounce to $150.63 high ended wave x and started the y leg lower. Now, as far as it remains below $150.63 high expect the stock to extend lower towards the $114.82- $92.67 blue box area. From there, buyers are expected to appear looking for wave (III) higher or should do a big 3 wave bounce at least.

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