The chart still reveals the low price that Procter & Gamble shares reached during the crash, in which the Dow Jones Industrial Average plunged 998.5 points in a matter of minutes. The index quickly recovered much of that decline.
Many of the components of the blue-chip index had their lowest trades canceled as being unrealistic, but Procter & Gamble's remains. The chart shows that P&G traded as low as $39.37 on May 6, 2010.
Procter & Gamble's low price was discussed in detail in a CNNMoney article published on May 6, 2010. Another article posted on May 6, 2010 (and updated on May 25, 2011) at the Huffington Post said that the $39 price would not stand, yet it remains in the the historical database from the New York Stock Exchange. If this low trade did not occur, it should have been scrubbed from the database.
That low price is important, because it can skew how technical analysts read Procter & Gamble's chart. When market technicians look at longer-term technicals, they look for all-time or multiyear highs and lows as key levels. In the case of Procter & Gamble, the $39.37 recorded on May 6, 2010 is its lowest level since July 2002.
Here's the weekly chart for Procter & Gamble.
Courtesy of MetaStock Xenith
The weekly chart for Procter & Gamble clearly shows the low of $39.37 set on May 6, 2010. Was this the "real" low for the day? After five years, analysts must think so, as this low sticks out like a sore thumb on the weekly chart.