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

By Shiri Gupta

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. Today's price range of $133.33 and $134.02 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. 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.

Kimberly-Clark (NYSE:KMB) is currently priced 5.9% above its average consensus analyst price target of $125.73. The stock should find initial support at its 50-day moving average (MA) of $132.82 and further support at its 200-day MA of $122.17.

In the past 52 weeks, shares of Kimberly-Clark have traded between a low of $103.04 and a high of $138.87 and are now at $133.65, which is 30% 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 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 subscribers consider buying shares of Kimberly-Clark on January 24th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $120.15. Since that recommendation, shares of Kimberly-Clark have risen 10.9%. We continue to monitor KMB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle kimberly-clark

Ticker(s): KMB