Shares of The Procter & Gamble Company PG are trading higher this Tuesday, hinting at a possible shift upward in price.

Currently, the stock is at a **support level** of $159.20 and is considered oversold. Historically, these conditions can signal an impending price rally, which is why our team has chosen it as the **Stock of the Day**.

Looking at the chart, you’ll notice that $159.20 serves as a crucial support level for Procter & Gamble. The stock fell to this point in late July, followed by a price rally. A similar pattern occurred again at the end of November. Now, the stock has reached this same support level once more.

Support reflects a significant number of investors eager to purchase shares at a particular price. After hitting support, stocks commonly experience a price rally.

This scenario unfolds when potential buyers worry about losing out to other investors willing to pay more. They anticipate that sellers will go to the highest bidder. Consequently, these concerned buyers tend to increase their bids, which prompts others to follow suit, leading to a bidding war that drives the price higher.

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Procter & Gamble’s stock is also notably oversold.

In the chart above, the red line indicates a **Bollinger Band**, positioned two standard deviations below the 20-day moving average price. Typically, about 95% of trading occurs within these two standard deviations. When activity falls below this threshold, it often attracts buyers anticipating a return to the average price—this buying pressure can push the price up, a pattern we’ve seen before.

With shares of Procter & Gamble currently oversold and sitting at a support level, there’s a possibility for increased buying activity and the start of a new upward trend.

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