CLOROX CO (CLX) WeeklyDates in the future with the highest probability for price direction reversals
CLX trade ideas
Sell High Buy Low TimeCLX is now facing a triple top formation and it could heads south towards the support level at
144.90. Alternatively, there is still a possibility for it to fake a breakout before coming down.
Those keen to short, please use the 4H or 1H time frame to check the price action and trends to determine a good entry point.
InterestingClorox is trading above it's 5 day moving average, and trying to fight to stay above resistance....blue sky breakout tomorrow? Could be interesting; after all it does kill anything it comes into contact with (coronavirus).
CLS Short again on overextended buyingWeekly analysis:
- Huge move up, broke resistance at 160 and instantly went to penetrate 165. Move is too fast without resting
- Topping tail
- Good move down to 1.1 R without much resistance
Daily analysis:
- Nice long topping tail with decent volume
- 2 Huge green candle up not much resistance going down
Intraday analysis:
- End the day with a inverted hammer with decent volume (bearish)
Main concerns:
- Volume on the topping tail candle today is not a stand out volume, just slightly higher compared to average bearish volume
- Counter trend trade, unable to have bigger targets. Stick with 50% retracement to be safe which is about 1.1 R
Clorox Co Kills it.
Coronavirus stock that may not attract the same attention as those scrambling to find a vaccine.
CLOROX provides prevention rather than cure.
A breakout of long term congestion phase could provide a nice trade opportunity
CLX - A Trade RevisitedAfter a strong move off of the 145 level once again, CLX has taken back buyer's interest. According to my model, a buy before earnings is risky but warranted. I will be buying at the open and will add if price touches the rising TL and/or if it breaks the 168 level with a long term target on the chart as shown! What might people need more of in the coming weeks and months? DISINFECTANTS.
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CLX overextended and inverted hammerWeekly analysis:
- Breakout at around 160 did not had any consolidation period. Notice the first breakout at 153.5 had some consolidation before. The second breakout at around 160 had long wicks and only took 2 weekly candles
- Stock is likely tired from the accelerated breakout attempt with almost no consolisation.
- Inverted hammer forming at resistance zone
Daily analysis:
- Inverted hammer at resistance around 160 with about x3 the normal volume
- 10 Green candles in a row. Stock has a high probability of being tired
- Price quite far from SMAs 50 and 100
- Not much resistance going down
Intraday analysis:
- 2 lower highers and lower lows on 27th Jan. Both highs had quite a long wick.
- After hours trading had a price spike but volume is quite insignificant. (Still slightly concerning)
CLX - Rising TriangleCLX is consolidating in a rising triangle pattern
if price will break above and closes 153.5 stock will probably attack last highs at 163.5
then could go even higher
158 area is acting as resistance
rising trendline if far away so stop at last low
$CLX | Weekly TF | Flaggingg2 scenarios, use stops, easier trade is 2 wait till there is a clear break upwards or downwards so that you don't get chopped up
Pull Back for CLXIt seems like it is time for CLX to pull back as the EMA (12) has dropped below the SMA (50) which is indicative of a short trend that is below its long term trend.
CLX ExtendedCLX over reaching here. Watch for pull back at least to the 382 or 618. Traders will lighten up on defensive stock if the market get a relief rally in the next days.
Watching to get long!Chart is presenting itself with great symmetry; that matches support and resistance
Where to Short #Clorox? Specific Levels to Watch for $CLX Bearish Break for Clorox occurred in early February 2018. On the chart you can see 4 horizontal lines. Notice that the Yellow and the Red Lines can be used as a good place to short, since Clorox is in a bear market currently.
These custom support resistance indicator lines show decent places to enter or exit.
The Blue indicator line serves as a Bullish Trend setter.
If your instrument closes above the Blue line, we think about going Long.
If your instrument closes below the Red line, we think about Shorting.
For Stocks, I prefer to use the Yellow line as my Bearish Trend setter (on Daily charts).
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