KMB pushes through key resistance level
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.
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.
Breaking through the key resistance level at 106.50 today, it is now likely to act as support going forward.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
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.
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
|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|
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