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Possible Bearish Inside Day Candle Pattern Detected for Kimberly-Clark (NYSE:KMB)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Kimberly-Clark (NYSE:KMB) based on the price action in the company's shares. Today's price range of $121.55 and $122.60 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 Kimberly-Clark may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Kimberly-Clark Corporation is a global health and hygiene company that manufactures and provides consumer products. The Company's products include diapers, tissues, paper towels, incontinence care products, surgical gowns, and disposable face masks. Kimberly-Clark's products are sold in countries around the world.

Kimberly-Clark share prices have moved between a 52-week high of $138.87 and a 52-week low of $109.67 and are now trading 11% above that low price at $122.01 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has risen 0.2%.

Based on a current price of $122.01, Kimberly-Clark is currently 0.4% above its average consensus analyst price target of $121.46. The stock should run into initial resistance at its 200-day moving average (MA) of $122.17 and subsequent resistance at its 50-day MA of $132.82.

SmarTrend is tracking the current trend status for Kimberly-Clark and will alert subscribers who have KMB in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle kimberly-clark

Ticker(s): KMB