With the incredible surge higher in the Dow Industrials, some consumer product companies like Procter & Gamble (PG) have enjoyed incredible gains. The company is up a solid 10% for 2017, and while impressive, it actually lags some of its peers in the index (Boeing, Apple and McDonalds). However, the chart is telling us that the recent drop fall may be beneficial – and just in time for a late-year rally.
A series of higher lows and higher highs is very constructive. Money flow has improved, relative strength is impressive, volume has popped on positive days, the MACD is on a buy signal and the W pattern is bullish. The current bull flag shows a breakout is imminent. We like this stock to follow the path of the orange line toward 100 before a pullback sets in.
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