KMB soars 1.66% closing $2.28 higher
Kimberly-Clark Corporation (KMB) Technical Analysis Report for May 22, 2020 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, KMB finished the week 0.79% higher at 139.74 after surging $2.28 (1.66%) today, strongly outperforming the S&P 500 (0.24%) ahead of tomorrow's Memorial Day market holiday. This is the biggest single-day gain in over a month. The last time we've seen such an unusually strong single-day gain on March 17th, KMB actually lost -6.75% on the following trading day. Today's close at 139.74 marks the highest recorded closing price since April 28th. Closing above Thursday's high at 137.93, Kimberly-Clark confirmed its breakout through the prior session high after trading up to $2.31 above it intraday.
Daily Candlestick Chart (KMB as at May 22, 2020):
Friday's trading range has been $3.90 (2.84%), that's far above the last trading month's daily average range of $2.75. Weekly volatility is also higher, being slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently lower than usual for KMB.
One bullish candlestick pattern matches today's price action, the White Candle.
The stock managed to close back above the 100-day moving average at 137.78 for the first time since May 15th.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Further buying might move prices higher should the market test April's nearby high at 144.60.
Among the 10 market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bullish Break through SMA 100" stand out. Its common bullish interpretation has been confirmed for Kimberly-Clark. Out of 67 times, KMB closed higher 53.73% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 58.21% with an average market move of 0.53%.