In 2022, Procter & Gamble (NYSE: PG) stock did exactly what it is supposed to do when the market is down: outperform. The consumer staples behemoth posted a -5% total return, compared to an -18.1% total return for the S&P 500.
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P&G (PG) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.