$CLX is near a weekly demand level (last level of support). Stock has room to 205 (1hr supply zone) with gap to fill at 200 on the way up. Earnings is why it dropped but good names dont stay down for long. currently in Feb 19 205 calls
**This is just my OPINION and my personal trade analysis.**
Large effetive voume and a poket pivot yesterday and today..
Possible pull back but who knows?? Monthly candle is a doji/important to get a good long entry level unless you have a money tree in the backyard like our government does (o:
A pocket pivot is a price/volume pattern. We say todays price forms a pocket pivot, when:
The price goes up compared to...
Clorox has been a great COVID play, naturally.. So far a .38 retrace, possible to bounce here or another 10%+ decline, the trend is clear on the multi decade support channel.
CLX has fallen 14% since the September peak. Clorox has instituted a relatively new, but highly experienced, CEO that has already demonstrated a clear understanding of the modern marketplace and how her company can succeed in a post-COVID world.
CLX saw a pretty large dip on vaccine news and in my opinion was slightly overdone. They recently reported very strong earnings and continue to not be able to keep up with demand. I also do not think demand will slow for at least the next several months. We are looking for a move above the 20-day moving average to move towards 50-day/fill the gap in the...
I read in a Barrons article that this Clorox dip was likely unjustified - and I have to agree. This company has shown solid financials, and an increasing profit margin for not one quarter but actually a few years.
This is a riskier play but the reward is there - this likely could bounce back up with any bad news regarding the COVID vaccine.
If it starts heading...
$CLX posted better than expected earnings with the PEAD projecting a neutral outlook for the stock with it currently trading on the upper boundary of the PEAD cone.
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1) TF: Monthly
2) TA: flag pattern, seldom to see it on this TF.
2) FA: It is used for COVID-19 treatment.
3) Sentiment: Winter in December, the virus is easier to be transmitted in the cool condition.
4) Potential upside in the long run.
TAYOR.
CLX earnings is on Monday, 11/02 at 6:30am. Consensus is $2.34 earnings per share & revenue $1.34B. I’m expecting a surprise on the upside ($2.50+) with positive future guidance. Unfortunately, with the covid outbreak accelerating the past month, Clorox will have plenty of business for Q4. Good luck and happy trading friends...
