P&G Continues Downward Trend Amid Ongoing Bearish Bias

Procter & Gamble (PG) continued its downward trend in recent intraday trading, remaining under the control of its primary medium-term downtrend. The stock's price action follows a short-term descending trendline that reinforces the prevailing bearish bias.

Selling pressure persists as the stock trades below its 50-day Simple Moving Average (SMA), limiting prospects for a sustained recovery in the near term. Momentum indicators have begun generating fresh bearish signals after reaching overbought territory, adding further downside pressure to the stock.

Despite this, our outlook remains bearish for the stock's upcoming trading sessions as long as resistance at $148.50 remains intact. Under this scenario, the stock is expected to target the key support level at $140.20.