The Proctor and Gamble Company (NYSE:PG) shareholders were probably starting to wonder if PG was ever going to move. The stock had simply been biding time for a couple of years, trading in a range between about $56 and $64 a share. Then around August 28th the stock started a run that has continued through to yesterday's close. The stock started August 28th around $64.25 a share, and as of yesterday the stock closed at $70.51. The thing I find so interesting about this run for PG is that the stock has closed higher virtually everyday since this run started. Proctor and Gamble has shown up on my new 52 week highs screen nearly every day the past 4 weeks, which is quite amazing. Take a look at a chart of Proctor and Gamble, which shows this recent straight steady line up.
The volume has been decent, but not extraordinary on this run, and the stock may be due for a slight pullback in the coming days. Given the nature of this stock though, the recent trading action and constant new highs has been quite impressive.
I hope to be able to show my readers some interesting charts as a find them, as I think being able to see what a specific stock has done and why it might have had that move can be quite educational.
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