Today’s stock spotlight is on Procter & Gamble (PG), where a potentially bullish setup is taking shape after a classic false breakout scenario.
The chart shows a blue horizontal support level that had been holding for several weeks. Recently, price dipped below this level — appearing to break down — but the move quickly reversed. That failed bearish move, marked with a yellow rectangle, signals a false breakout and often leads to strong buying pressure as trapped sellers exit.
Adding strength to the setup, price has now also broken above a red downtrend line, which had been serving as dynamic resistance. With PG now trading above both the horizontal support and the trendline, the bullish case gains momentum.
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The false breakout below key support suggests downside exhaustion and renewed control by buyers.
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A break above the red downtrend line confirms the shift in sentiment and gives us a clean technical buy signal.
As long as price holds above these two key levels, the outlook remains bullish.