LONG Chlorox $CLX as formed inversed head and shoulder
price crossed 50 on daily, looking for bounce confirmation off the 50 mark.
Could take another 2d days
Clorox pattern is looking bullish and may be on the verge of breaking higher.
This Consumer Staple could do a meaningful retrace of the downtrend if it breaks out of this bullish consolidation and recaptures the 200 Weekly MA.
Watching for a long entry.
1. previously have failed the 150-151 resistance 5 times, could work again.
2. short term extended. 25% above low.
3. big earning drop and no-reason bounce with the market.
4. Fundamental deteriorating, earning, sales, margin all dropping. Yet PE still high at 32.
5. Institutional support is dwindling
NO GAP $DJI UP so what now?
Looks like there's still momentum, it's early in day
Yesterdays HANGING MAN is warning sign, NOT a reason to go short, let's see how day fares
Waiting for CONFIRMATION
$ATVI is our largest position, rolled 1/2 $TWTR $ there
$BHP
#GOLD #SILVER
Bought $VZ last week
Own $INTC @ 28
$AMC last week
Still have trailer $LEU
Still hodl...
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in green with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that,...
Don't listen to all the pundits when they tell you the market is strong. If you had to borrow money every year to keep up your lifestyle and pay off those debts with larger debts, would you say your personal economy is strong? No. That's exactly what the government has done for decades and the chickens are coming home to roost. The SPX (S&P 500) has been phantom...
CLX reported earnings on Thursday after the close and disappointed on input costs which ultimately means Clorox will be raising prices to adjust their margins. The stock is highly oversold, but not a buy- YET. I will be watching Monday and Tuesday to see if it holds support for a trade.
Clorox has Covid new variant as a catalyst. Has fallen the past two earnings.
Inverse H&S (Head and shoulders ) on the Daily.
Has not closed back below support.
Entry : Here $174.00
S/L : $170-$172
TP 1 $178
TP 2 $182
TP 3 $185
TP 4 $190
TP 5 Open
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Happy Trading Week
Attempting to breakout of the downtrend for a reversal. Omnicron news could act as a catalyst for confirmation and continue to trend upward. NOT FINANCIAL ADVICE!
Swing play idea for CLX
Disclaimer: I"m NOT a financial advisor. All trade ideas are shared for educational & entertainment purposes only. All advice is based on technical and my own opinion.
CLX
BUYZONE = 186-180
Cost Avg Down (CAD) = 165-170
1st target = 192
2nd Target = 236fib 196
3rd Target = 382fib 204
HODL Target = ATH
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This content is for informational, educational and entertainment purposes only. This is not in any way, shape...
The plan details are on the chart. Short term, if CLX visits the 208 level and makes a double bottom on a smaller timeframe I will look to go long with a tight stop at 202. If 202 breaks, the bottom of a horizontal channel is at 194 which is where I would look t reload due to fib support and the 200 day moving average. The targes for longs of the first trade are...
