The channel on the daily chart for Procter & Gamble remains intact as we head into tomorrow’s earnings. We can see the stock’s share price is flat on the day and trading around $172.33 a share, which can be expected a day before the earnings report. The stock found some support around $166.28 earlier in October after profit-taking took place from the upper trendline of the channel (11th of September). Following the recent uprise, we can see it has now come across some resistance around $174.90, this level will be one to watch for tomorrow. The price is now arguably in a rather neutral position when we analyse the daily chart, a move towards the upper trendline would require a rise of around 3.6%. On the other hand, a 3.3% fall would be needed to re-test the October low. Hence, it’s almost a 1-1 risk to reward for traders who may trade the news. A move above the all-time high of $178.42 and possibly securing $180 may pave the way towards $190, perhaps a beat in earnings with reassured guidance could support this outlook. However, any slight disappointment could also spark some volatility as we have seen with some stocks already this earnings season. Towards the downside for longer-term investors, a break below the support of $166.28 may shift the market view towards $158.08 to re-test this support area. Fundamentals can play a greater importance in price movements compared to technical indicators, however, their current positioning offers a potential setup toward the upside. The MACD has just turned bullish once again and the RSI is back to reading above 50 (52).