These are the reasons why I like clorox:
As you can see the stock is at a strong support line so i am expecting a bounce. This point was very valuable when the stock bounced two times at that resistance level last year so i am expecting the same thing tomorow. Not only the stock is at a great support level but the candle of friday shows indecision and in my book indecision after a strong down move means a reversal. That means that bears start to loose strength to continue this downtrend move. Finally, the stock just stopped at the 50 MA so this is very strong. So nice long term support level, great little indecision candle and the stock is at an other strong support level ( MA50).
As you can see the stock is at a strong support line so i am expecting a bounce. This point was very valuable when the stock bounced two times at that resistance level last year so i am expecting the same thing tomorow. Not only the stock is at a great support level but the candle of friday shows indecision and in my book indecision after a strong down move means a reversal. That means that bears start to loose strength to continue this downtrend move. Finally, the stock just stopped at the 50 MA so this is very strong. So nice long term support level, great little indecision candle and the stock is at an other strong support level ( MA50).
