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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Kimberly-Clark (NYSE:KMB) based on the price action in the company's shares. Yesterday's price range of $120.52 and $121.29 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. Traders and investors interested in shares of Kimberly-Clark may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Kimberly-Clark have traded between a low of $103.04 and a high of $138.87 and closed yesterday at $120.69, which is 17% above that low price. The 200-day and 50-day moving averages have moved 0.23% higher and 0.29% lower over the past week, respectively.

Kimberly-Clark has overhead space with shares priced $120.69, or 3.4% below the average consensus analyst price target of $125.00. The stock should find initial resistance at its 200-day moving average (MA) of $122.17 and further resistance at its 50-day MA of $132.82.

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.

SmarTrend recommended that its subscribers protect gains by selling shares of Kimberly-Clark on July 28th, 2016 by issuing a Downtrend alert when the shares were trading at $130.25. Since that call, shares of Kimberly-Clark have fallen 7.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle kimberly-clark

Ticker(s): KMB