KMB pushes through key resistance level
Kimberly-Clark (KMB) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (KMB as at Apr 16, 2018):
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.