PG Analysis for 02.10.2008

PROCTER & GAMBLE - PG

Monthly chart shows increasing selling pressure during the month of January 2008. Up trendline in place remains intact for now. Current support is below at $59 to $60 area. The move up off the 2000 low looks corrective in nature. The large move up into the December 2007 high commenced on March 2000, which just happened to be the top of the tech bubble before it burst. Now, there is talk of recession in early 2008, and the stock looks to be toppy.

Weekly chart shows last week's trading action brought out the sellers. The stock is currently trading below the prior high and now key LIS to watch. No buy signal/pattern evident on this timeframe.

Daily chart shows the 200sma as current resistance. Price action is tracing out a possible consolidation range/bear flag pattern. IF this is indeed a bear flag, THEN look for eventual lower lows. No buy signal/pattern evident as of yet. Therefore downside is more likely at this time.