jib232

CLX, I smell bleach in the streets

Long
NYSE:CLX   Clorox Company (The)
CLX from the weekly chart.
CLX has been primarily trending up since the early 80’s. Near the end of Nov 2019 the 130 EMA was tested, and a rally was generated that broke the consolidations resistance line at that time. Stock prices soared around 65% in under a years’ time. Price has now fallen around 37%. I feel the price will retest the support line and enter an accumulation phase.

My RSI and MACD-H are in completely oversold zone with the stochastic showing downward momentum. One thing I would like to note on the weekly is where the MACD-H lines are currently at. They have never been more oversold in the history of the stock.

If the support line holds around $166.00, I will look for swing trades on the daily. If the price holds above the 130 on the weekly, I will increase position sizes.
Clause de non-responsabilité

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