Sometimes The Less Sexy Stock Is The Next Play
Traders and investors are always looking for the next hot stock. It is safe to say that the sexy stocks like Apple Inc (NASDAQ:AAPL), Google Inc (NASDAQ:GOOG), or Twitter Inc (NASDAQ:TWTR) always seem to get all of the media attention. This is usually because these stocks are perceived to have the best growth opportunities, but when the overall market indexes are exceptionally volatile and choppy it is usually better to look at the less sexy or boring stocks.
One stock that is now on my radar is Procter & Gamble Company (PG). This stock has been declining sharply lower since late November 2013. The stock peaked out at $83.82 a share at that time and is now currently trading around the $77.00 level. The stock is showing very good daily chart support around the $76.00 area. This level is an area where the institutional money will generally look to support the equity, so that is a place where I begin to look for a bounce in the stock. Other stocks that look similar to PG stock are Colgate-Palmolive Co. (CL), and The Clorox Company (CLX).