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Watch for Continued Gains in Shares of Clorox (CLX)

By Nick Russo

Shares of Clorox (NYSE:CLX) traded at a new 52-week high today of $141.76. This new high was reached on below average trading volume as 68,000 shares traded hands, while the average 30-day volume is approximately 1.1 million shares.

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 (NYSE:CLX) is currently priced 8.5% above its average consensus analyst price target of $129.57. The stock should find initial support at its 50-day moving average (MA) of $126.60 and further support at its 200-day MA of $122.64.

Over the past year, Clorox has traded in a range of $103.77 to $141.76 and is now at $141.61, 36% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.3%.

SmarTrend recommended that subscribers consider buying shares of Clorox on May 31st, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $135.93. Since that recommendation, shares of Clorox have risen 3.8%. We continue to monitor CLX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Clorox

Ticker(s): CLX