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

By Shiri Gupta

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. Yesterday's price range of $120.35 and $122.60 is within the prior day'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.

Over the past year, Kimberly-Clark has traded in a range of $109.67 to $138.87 and closed yesterday at $122.23, 11% above that low. The 200-day and 50-day moving averages have moved 0.23% higher and 0.29% lower over the past week, respectively.

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.

Based on a current price of $122.23, Kimberly-Clark is currently 0.6% above its average consensus analyst price target of $121.46. The stock should find resistance at its 50-day moving average (MA) of $132.82, as well as support at its 200-day MA of $122.17.

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 am inside day candle kimberly-clark

Ticker(s): KMB