Back to Procter & Gamble company, which now expects earnings per share two cents less than expected, for the third quarter, between $0.89 and $0.95 cents. P & G expects seven cents less for EPA in the current financial year which should be between $3.93 and $4.03 per share.

Besides, the group will eliminate 5,700 non-manufacturing jobs as part of a new plan to reduce its cost of ten billion dollars by the end of june 2016.P & G also plans to use cheaper packaging and work with other companies for innovations. Currently, entreprise value is high as shown by the ratio “enterprise value/ revenue” estimated 2.49x and EPS is 16.7x for 2012.

Technically, once the $67 resistance has been hit, bullish trend seems to be depleted. Last time, the stock failed to cross up the resistance, therefore this one would seem strong. In this case, the strategy would be now to take a short position at the current price and to buy back at $64.40. This strategy will be cancelled if the share increases above $67.