Short

CLX - Double top formation short from $135.23 to $113.13

Updated

CLX is testing a resistance label from where it previously had a sharp decline. It also seems forming Adam & Eve double top formation.
It also has Over 10 million reported insider selling. Overall it is an interesting short setup & we think it can decline down to 113 area.

Please check back for Trade updates. (Note: Trade update is little delayed here.)

Note

March 27th - Seems rolling over, but did not hit entry yet.

Trade active

March 30th - Declined & hit our entry price today, and closed at the bottom of the range. Looking very good as short. Would consider July $140 Puts, last traded for $7.70

Note

March 31st - Small but continues decline, looking good as short.

Note

April 3rd - Down trend continued with increase in volume. July $140 Puts traded as high as $8.60

Note

April 10th - Getting some resistance in MA50, wait & see situation.

Note

April 12th- updating our stop loss criteria to $137.47

AcornWealthCorp

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