CLX ends the day indecisive


The Clorox Company (CLX) Technical Analysis Report for May 17, 2018 [1 min read]
Highlights
CLX unable to break through key resistance level
CLX finds support at 20-day moving average
CLX finds buyers again around 117.34
CLX closes within previous day's range after lackluster session
CLX ends the day indecisive
TQ Sentiment
Report Sentiment: 33% Bullish
Technical Forecast:
Overview

CLX ended Thursday at 118.33 edging lower $0.05 (-0.04%) on low volume. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for CLX
Volatility

Thursday's trading range was $1.40 (1.18%), that's far below last trading month's daily average range of $2.41. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way below average.

Support/Resistance

Unable to break through the key technical resistance level at 118.55, the stock closed below it after spiking as high as 118.74 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. After having been unable to move lower than 117.37 in the prior session, The Clorox found buyers again around the same price level today at 117.34. After trading as low as 117.34 during the day, the share found support at the 20-day moving average at 117.91.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Order Flow

Buying could speed up should prices move above the close-by swing high at 118.85 where further buy stops might get activated. With prices trading close to this year's low at 113.57, downside momentum could accelerate should the market break out to new lows for the year. As prices are trading close to May's high at 121.57, upside momentum might speed up should CLX mark new highs for the month. As prices are trading close to May's low at 115.00, downside momentum could accelerate should the stock mark new lows for the month.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being very bearish.

Market Conditions for The Clorox Company
Condition Forecast Direction Win Avg Worst Best Events
Closed above last periods high TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
RSI(2) above 80 TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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