CLX
CLX is a short. 3.7% risk for >7% profit1. previously have failed the 150-151 resistance 5 times, could work again.
2. short term extended. 25% above low.
3. big earning drop and no-reason bounce with the market.
4. Fundamental deteriorating, earning, sales, margin all dropping. Yet PE still high at 32.
5. Institutional support is dwindling
Waiting for confirm $DJI, plus other positions, 50% cash nowNO GAP $DJI UP so what now?
Looks like there's still momentum, it's early in day
Yesterdays HANGING MAN is warning sign, NOT a reason to go short, let's see how day fares
Waiting for CONFIRMATION
$ATVI is our largest position, rolled 1/2 $TWTR $ there
$BHP
#GOLD #SILVER
Bought $VZ last week
Own $INTC @ 28
$AMC last week
Still have trailer $LEU
Still hodl $CLX $MPLX $KHC
Cash in major account is 50%
In others it's bit less
No "day trading/aggressive" $ used
Clorox lays off the Chlorine. CLXWe are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in green with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe
cDon't listen to all the pundits when they tell you the market is strong. If you had to borrow money every year to keep up your lifestyle and pay off those debts with larger debts, would you say your personal economy is strong? No. That's exactly what the government has done for decades and the chickens are coming home to roost. The SPX (S&P 500) has been phantom collapsing since August 2021 but it's hidden by the larger weighted stocks. It's possible we see a quick rally before a huge sell-off, but I wouldn't place that bet. There are good companies that are down dramatically. Even Chipotle (CMG) is down 31% in the last 6 months which is a crash! Here are some more: Clorox (CLX) down 28%, BlackRock (BLK) down 28%, Paypal (PYPL) down 69%, Penn National Gaming (PENN) down 50%, Paycom (PAYC) down 39% and so many more.
The first area to break we need to be watching is the 3,700 level. The next is the 3,500-3,250 then the where there is a possible area of large support off the old pre-pandemic highs. Our average sell-off yellow bar is 3,000 - 2,800 as a very fair level of support. That isn't to say we can't have a 50% collapse or more, but this is a great starting point to average out and see where this may end. If we see banks folding, WW3, or anything along those lines, expect massive moves to the downside and then incredible inflation (FED money supply growth).
Hoping to clean up on CLX, will be watching Monday/ TuesdayCLX reported earnings on Thursday after the close and disappointed on input costs which ultimately means Clorox will be raising prices to adjust their margins. The stock is highly oversold, but not a buy- YET. I will be watching Monday and Tuesday to see if it holds support for a trade.
$CLXLong $StocksClorox has Covid new variant as a catalyst. Has fallen the past two earnings.
Inverse H&S (Head and shoulders ) on the Daily.
Has not closed back below support.
Entry : Here $174.00
S/L : $170-$172
TP 1 $178
TP 2 $182
TP 3 $185
TP 4 $190
TP 5 Open
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Happy Trading Week
CLX - Clorox - Daily & Weekly Setup - Buyzone, CAD, TargetsCLX
BUYZONE = 186-180
Cost Avg Down (CAD) = 165-170
1st target = 192
2nd Target = 236fib 196
3rd Target = 382fib 204
HODL Target = ATH
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This content is for informational, educational and entertainment purposes only. This is not in any way, shape or form financial or trading advice.
Good luck, happy trading and stay chill,
2degreez
CLX - My Squeaky Clean, TWO PART PlanThe plan details are on the chart. Short term, if CLX visits the 208 level and makes a double bottom on a smaller timeframe I will look to go long with a tight stop at 202. If 202 breaks, the bottom of a horizontal channel is at 194 which is where I would look t reload due to fib support and the 200 day moving average. The targes for longs of the first trade are on the chart. I will be looking to play this with options. If you want access to my options strategy, please DM me :)
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CLX crosses below 100 day EMAClorox NYSE:CLX has really been selling off this month. The stock has dipped below its 100 day exponential moving average more than twice recently. I am going to see if CLX break below the 200 EMA. If so, then the key levels to watch might be that bearish turning point line, which was drawn using previous support levels.
Seeing this chart makes me wonder...Is the Coronovirus trade over?
As the economy slowly starts to re-open, and talk about the Coronavirus fades into "yesterday's news," can we expect to see a selloff in other stocks that may have benefited from the pandemic? I certainly think so. As the month of November nears, you can expect to hear less about the Coronavirus and more about the upcoming U.S. Presidential election. Hang on to your shorts folks ... its about to get interesting.
Clorox (CLX) - Catching the PivotAs mentioned before, Clorox ( NYSE:CLX ) has been one of those steadily rising stocks that appear to be benefiting from the Coronavirus. Logically, it makes sense that a company like Clorox would do well during a time where sanitation is of the utmost importance. It's not surprising to see that CLX is on the rise, however, even rising stocks need to take a breather once in a while, catch their breath, and then continue on their path. Usually, I use the 8, 13, and 21 EMAs to locate potential pullback trades, however, this particular stock seems to gravitate more accurately to the lower Keltner band before pivoting upwards. I have marked other pivot points with white arrows that confirm CLX has bounced in the past in relation to the lower keltner channel band. As always past performance does not indicate future results.
I reduced the opacity on my EMAs so you can see the Keltner channel lines more clearly, putting less strain on the eyes. Nothing like a chart full of lines to put your mind into analysis paralysis. My guess here is CLX might find support as it has done in the past at the lower Keltner channel and continue moving upward with its current trend. Therefore, I will flag this idea as bullish and see what happens.