KMB unable to break through key resistance level
KMB finished Thursday at 104.87 edging lower $0.02 (-0.02%). Trading $0.56 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. 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.
Thursday's trading range was $1.34 (1.28%), that's below last trading month's daily average range of $2.16. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being way below average.
Unable to break through the key technical resistance level at 105.27, the market closed below it after spiking as high as 105.56 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.
While Kimberly-Clark is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being very bearish.
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|Bounced off Technical Resistance R1||TQ Pro Members Only|
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