The Clorox Company is one of the few companies, which profit from the current situation. This is the type of trade: the TA traders and fundamental based investors are looking for. It is in a healthy uptrend and we know that: they beat their earnings estimates, so fundamentals are strong.
Price bounced back from its current 195.8 support (purple box), with high volume. Now we might head to higher levels such as 214.76 resistance level.
However on the negative side: it is overbought on the RSI. A few percent of pullback is possible, but we also have a lot of room to rise.
My trade looks like the following:
>First price target: 214.76 but it might also break out so I would not set a take profit.
>Stop loss at 196.37
If you are interested in my ideas, please check my profile.
Price bounced back from its current 195.8 support (purple box), with high volume. Now we might head to higher levels such as 214.76 resistance level.
However on the negative side: it is overbought on the RSI. A few percent of pullback is possible, but we also have a lot of room to rise.
My trade looks like the following:
>First price target: 214.76 but it might also break out so I would not set a take profit.
>Stop loss at 196.37
If you are interested in my ideas, please check my profile.
