KMB pushes through key resistance level


Kimberly-Clark (KMB) Technical Analysis Report for Apr 16, 2018 [< 1 min read]
Highlights
KMB pushes through key resistance level
KMB pushes through previous session high
KMB ends the day indecisive
TQ Sentiment
Report Sentiment: 50% Bullish
Technical Forecast:
Overview

KMB finished Monday at 106.81 gaining $0.97 (0.92%). Closing above Friday's high at 106.67, the stock confirms its breakout through the previous session's high having traded $0.90 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for KMB
Volatility

Monday's trading range was $1.46 (1.37%), that's below last trading month's daily average range of $2.23. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Breaking through the key resistance level at 106.50 today, it is now likely to act as support going forward.

Trend

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

Order Flow

Selling could accelerate should prices move below the close-by swing low at 105.62 where further sell stops might get activated. With prices trading close to this year's low at 104.58, downside momentum could speed up should the market break out to new lows for the year.

Conclusion

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

Market Conditions for Kimberly-Clark
ConditionForecastDirectionWinAvgWorstBestEvents
White Candle TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bearish Bounce off SMA 20 TQ Pro Members Only
Bullish Break through SMA 50 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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