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Possible Bearish Inside Day Candle Pattern Detected for Clorox Co (NYSE:CLX)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Clorox Co (NYSE:CLX) based on the price action in the company's shares. Today's price range of $158.79 and $158.79 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Clorox Co may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

The Clorox Company produces and markets non-durable consumer products sold primarily through grocery and other retail stores. The Company's principal products include household cleaning and bleach products, charcoal, cat litter, automotive care products, dressings, and trash bags. Clorox markets its products in the United States and other countries around the world.

Clorox Co (NYSE:CLX) is currently priced 18.4% above its average consensus analyst price target of $129.57. Clorox Co shares have support at the 200-day moving average (MA) of $153.68 and additional support at the 50-day MA of $152.56.

In the past 52 weeks, shares of Clorox Co have traded between a low of $120.24 and a high of $167.70 and are now at $158.79, which is 32% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.2%.

SmarTrend is monitoring the recent change of momentum in Clorox Co. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Clorox Co in search of a potential trend change.

Keywords: bearish inside day candle clorox co

Ticker(s): CLX