CLX climbs to highest close since Inception
Clorox Company (CLX) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, CLX ended the week 0.42% higher at 151.38 after gaining $0.17 (0.11%) today. Today's closing price of 151.38 marks the highest close since Inception. Trading up to $1.74 lower after the open, The Clorox managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Thursday's high at 151.25, the share confirms its breakout through the prior session's high having traded $0.21 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (CLX as at Sep 14, 2018):
Friday's trading range was $1.99 (1.32%), that's slightly below last trading month's daily average range of $2.14. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way below average.
The market ran into sellers again today around 151.46 for the third trading day in a row after having found sellers at 151.25 in the previous session and at 151.24 two days ago.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying could speed up should prices move above the close-by swing high at 152.39 where further buy stops might get activated. Selling could accelerate should prices move below the nearby swing low at 149.02 where further sell stops might get triggered.