PPG Industries Jumps 3.36% to $112.32 on Technical Bullish Signals

PPG Industries (PPG) demonstrated notable bullish momentum in its latest trading session, rising 3.36% to close at $112.32. This marks the third consecutive daily gain, culminating in a 4.44% advance over this period. The analysis below employs multiple technical frameworks to evaluate the stock’s current positioning and probable trajectory.
Candlestick Theory
Recent candlestick patterns reveal a pronounced recovery phase. The session ending June 23, 2025, formed a robust bullish candle with a wide range (low: $108.31, high: $112.61), following two smaller bullish candles on June 18 and 20. This pattern indicates accelerating buying pressure after consolidation near the $107–$108 support zone, established during the June 13–16 trough. Key resistance now resides near $115–$116, aligning with the early June and May highs, while support holds firm at $107–$108. A decisive close above $113 could signal continued upward momentum.
Moving Average Theory
The interplay of moving averages highlights divergent trends across timeframes. The 50-day moving average (50-DMA) currently hovers near $110.50, with the price ($112.32) trading above it, suggesting short-term bullishness. Conversely, the 100-DMA (~$117) and 200-DMA (~$120) remain above the current price, reflecting persistent long-term resistance. This configuration implies PPG is navigating a bearish-to-bullish transition in the intermediate term, though sustained upside requires conquering the 100-DMA.
MACD & KDJ Indicators
The MACD histogram shows a recent bullish crossover, with the MACD line ascending above its signal line, corroborating the short-term uptrend. Concurrently, the KDJ oscillator presents a bullish alignment, as the %K line has crossed above the %D line from oversold territory (<20) following the June 13 low. Both indicators converge in signaling building upward momentum, though the KDJ’s current readings (approaching 60) are not yet overbought, leaving room for additional upside.
Bollinger Bands
Bollinger Bands have transitioned from contraction to expansion after the June 13 volatility spike, reflecting renewed price activity. The current price trades near the upper band (~$113.50), indicating bullish strength. However, the bands’ moderate expansion suggests volatility is not excessive, potentially supporting continued trend development. A close above the upper band may foreshadow overbought conditions, while a retreat toward the middle band (~$109) could offer a buying opportunity if support holds.
Volume-Price Relationship
Volume analysis validates the recent rebound. The 3.36% surge on June 23 occurred alongside 2.02 million shares traded—lower than the 3.91 million shares on June 20 but notably higher than the preceding two sessions. This volume profile suggests growing conviction in the rebound, as rising prices are attracting incremental participation. The absence of climactic volume during the advance implies room for further accumulation, though confirmation would require consistent volume expansion on subsequent up days.
Relative Strength Index (RSI)
The 14-day RSI reads approximately 58, calculated using the formula RSI = [Average Gain / (Average Gain + Average Loss)] × 100. This neutral reading reflects balanced momentum after recovering from oversold levels (<30) in mid-June. While not yet overbought (defined as >70), the RSI’s upward trajectory aligns with recent gains. However, its failure to reach overbought territory during the three-day advance may indicate unresolved buying power, though traders should monitor for potential bearish divergence if prices rise while RSI plateaus.
Fibonacci Retracement
Applying Fibonacci levels to the swing high of $115.57 (June 10) and swing low of $106.08 (June 13) reveals critical thresholds. The price has surpassed the 61.8% retracement at $111.94 and closed near the 76.4% level ($112.91), indicating robust recovery strength. This breakout suggests potential retests of the $115.57 peak. Should this resistance break, the 127.2% extension near $118 becomes the next upside target. Conversely, the 50% retracement ($110.83) now serves as pivotal support.
Confluence and Divergence
A significant confluence of bullish signals appears across indicators. The breach of the 61.8% Fibonacci level aligns with the MACD bullish crossover, KDJ improvement, and price holding above the 50-DMA, collectively reinforcing near-term strength. No material divergences are evident; volume, momentum oscillators, and trend indicators harmoniously support the rebound. However, the overhang of the 100-DMA and 200-DMA resistance warrants caution for longer-term trend reversals. Probabilistically, the weight of evidence suggests continued near-term upside toward $115–$116, though a failure to break this resistance may trigger consolidation.