CXX trade ideas
CLX - My Squeaky Clean, TWO PART PlanThe 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 on the chart. I will be looking to play this with options. If you want access to my options strategy, please DM me :)
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Eyes Wide OpenAs a long term dividend investor I'm watching Clorox to see if it bounces here. This area of support may prove to be a good place to add to the position if it holds. Just watching and waiting so far.
CLX crosses below 100 day EMAClorox NYSE:CLX has really been selling off this month. The stock has dipped below its 100 day exponential moving average more than twice recently. I am going to see if CLX break below the 200 EMA. If so, then the key levels to watch might be that bearish turning point line, which was drawn using previous support levels.
Seeing this chart makes me wonder...Is the Coronovirus trade over?
As the economy slowly starts to re-open, and talk about the Coronavirus fades into "yesterday's news," can we expect to see a selloff in other stocks that may have benefited from the pandemic? I certainly think so. As the month of November nears, you can expect to hear less about the Coronavirus and more about the upcoming U.S. Presidential election. Hang on to your shorts folks ... its about to get interesting.
$CLX - little engine that couldShowing some positive signs that this may crawl out from it's hole.
Watching the next 6-12 trading days to get above that 20 MA in a healthy shift
$CLX - $234 by 9/17Could be resistant to the election and "the sky is falling" mentality floating in the air
Grabbed a call option 8/31 as planned.
Clorox (CLX) - Catching the PivotAs mentioned before, Clorox ( NYSE:CLX ) has been one of those steadily rising stocks that appear to be benefiting from the Coronavirus. Logically, it makes sense that a company like Clorox would do well during a time where sanitation is of the utmost importance. It's not surprising to see that CLX is on the rise, however, even rising stocks need to take a breather once in a while, catch their breath, and then continue on their path. Usually, I use the 8, 13, and 21 EMAs to locate potential pullback trades, however, this particular stock seems to gravitate more accurately to the lower Keltner band before pivoting upwards. I have marked other pivot points with white arrows that confirm CLX has bounced in the past in relation to the lower keltner channel band. As always past performance does not indicate future results.
I reduced the opacity on my EMAs so you can see the Keltner channel lines more clearly, putting less strain on the eyes. Nothing like a chart full of lines to put your mind into analysis paralysis. My guess here is CLX might find support as it has done in the past at the lower Keltner channel and continue moving upward with its current trend. Therefore, I will flag this idea as bullish and see what happens.
The Covid-19 BounceCLX closed strong after a nice 50 ema bounce. I'm taking the entry because I recently watched a representative from Clorox say that demand is so strong it will take them until 2022 to get caught up disinfectant wipes.
Will there be a feeling of dancing in the ceiling?Show Me the Money! 31 July, 2020, by Vladimir Rojankovski, Senior Analyst, Grand Capital
The Clorox Company (CLX) is scheduled to report fourth-quarter fiscal 2020 results on Aug 3rd, before market open. In the last reported quarter, this sanitary chemical manufacturer delivered an earnings surprise of almost 10%. Moreover, it has been securing an earnings surprise of average 6.6%, over the trailing four quarters.
What to expect this time around? Clorox has been gaining from increased demand for hand sanitizers, disinfecting wipes, and other floor and house-cleaning products on the back of rising awareness of the COVID-19 pandemic. Driven by this sudden spike in demand, management in its last earnings call raised its view for fiscal 2020. Notably, management had projected sales growth of 4-6%, with organic sales growth of 6-8%. Moreover, fiscal 2020 earnings per share are anticipated to be $6.70-$6.90.
We noted that consensus-estimate for EPS is just $1.99 versus $1.67 last quarter, while actual number came at $1.89 per share in the quarter when sanitary and hygiene sprays and liquids became hot items only in mid-March, just two-three weeks before the quarter end. So, will there be a feeling of dancing in the ceiling?
Long CLXEntry within 3% of the chart demonstrated entry point. Anticipated this one to be the future market leader and may take 1/3 of the profits at 1R, 1/3 at 2R, 1/3 for the max possible return.
Break Out After Doji - Price is staying above 8 EMABreak Out After Doji (Morning Star) - Price is staying above 8 EMA, Clorox is working 24 hours a day to meet the supply-demand to fight coronavirus.
Double top within a great company Just a note that we see double top in this chart during the pandemic. Will it break for new highs?
Clorox stock gonna drop pretty soon. What is the support and resistance for Clorox Company (CLX) stock price?
CLX support price is $201.07 and resistance is $208.85 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CLX stock will trade within this expected range on the day.
Prediction:
clorox could go up to 207-210 then its gona drop back down to 200 or lower.
plan: I will wait for clorox stock to rise in price which will make buying puts cheaper,
good luck trading!
Swing-trade opportunityThe Clorox Company is one of the few companies, which profit from the current situation. This is the type of trade: the TA traders and fundamental based investors are looking for. It is in a healthy uptrend and we know that: they beat their earnings estimates, so fundamentals are strong.
Price bounced back from its current 195.8 support (purple box), with high volume. Now we might head to higher levels such as 214.76 resistance level.
However on the negative side: it is overbought on the RSI. A few percent of pullback is possible, but we also have a lot of room to rise.
My trade looks like the following:
>First price target: 214.76 but it might also break out so I would not set a take profit.
>Stop loss at 196.37
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CLX - Healthy uptrend + Bullish Engulfing aI. Analysis
1. Stock in a healthy uptrend with swing lows either testing or getting close to the 50 MA
2. Price trading at the value zone - 50MA area
3. Strong bullish engulfing candle at this area - candle nearly 1,5x one ATR (14)
We have a trend giving up a long bias, price in a value area and a strong bullish engulfing providing us with a reliable entry trigger and a clean trade.
II. Trade
1. Enter next candle
2. SL 1 ATR below 50 MA
3. TP next swing high for swing traders or the cross below and hold of the 50MA for trend followers
Plsd to hear your feedback.
Cheers
Ruben
CLX - rare green among the sea of red todayCLX tested the 50% fibonacci retracement and quickly proceed to form a bullish engulf candle. With bullish divergence on the stochastic, time to long @ 198 with initial stop at 193 and looking scale out between 210 (recent hi) and 210 (127% fib extension).
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
Strong Stock, Strong Sector, Horizontal and Trendline SupportCLX is in a strong sector (XLP) that is due for some love. This stock has pulled back to horizontal and trendline support. Possible longs are above $200 or early entry now at support. There is no divergence and the coutner-trendline has not been broken, so buying above $200 has greater incentives.
The view of CLOROXHey traders, CLOROX must be bought urgently at the start of the market, strong buy signal.
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CLX is making higher highs time after timeCLX saw a pullback because it was being overbought and it dropped $15 because of it. CLX is now neither overbought nor oversold which is a good thing. However it is closer to the overbought side. Once it hits 70 on the RSI the price is going to drop.
