Bear wedge continues.
Clorox is not the only company making Handiwipes. There is always Walmart
Advance stuck at 0.382 retracement.
Expecting breakdown to take it way down to fill gap 35-40 points lower
Am buying Sept or later puts around 175
CLX forming the right shoulder which could end its current channel, however if CLX defends the trend line, then we can continue to move in this channel and eventually break upwards.
Clorox, regardless of the hand-iwipes, is forming a nice bear flag on the hourly.
If this breaks down expect target to come to EXACTLY the gap up move from mid-July 2018 ~ 40 points from here
Also may reflect a H & S completion
Contextual immersion trading strategy idea.
The demand for The Clorox Company`s shares looks higher than the supply.
This and other conditions can cause a rise in the share price in the next days.
So I opened a long position from $181,58;
Information about take-profits and stop-loss will be later.
Do not view this idea as a recommendation for trading or...
CVX has pullback to its moving averages and held. Now looks like its beginning its rounding formation back to the recent highs. Target at $190 which is nearest resistance.
The available opportunities for trend investors evaporated virtually overnight when global markets plummeted from their 10-year equity high.
The abrupt decline adversely affects the investment strategy that I specifically designed to capture consistent market trends, and therefore the available short-term opportunities have severely reduced as we witness the...
CLX is now facing a triple top formation and it could heads south towards the support level at
144.90. Alternatively, there is still a possibility for it to fake a breakout before coming down.
Those keen to short, please use the 4H or 1H time frame to check the price action and trends to determine a good entry point.
Clorox is trading above it's 5 day moving average, and trying to fight to stay above resistance....blue sky breakout tomorrow? Could be interesting; after all it does kill anything it comes into contact with (coronavirus).
Weekly analysis:
- Huge move up, broke resistance at 160 and instantly went to penetrate 165. Move is too fast without resting
- Topping tail
- Good move down to 1.1 R without much resistance
Daily analysis:
- Nice long topping tail with decent volume
- 2 Huge green candle up not much resistance going down
Intraday analysis:
- End the day with a inverted...
