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

By James Quinn

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 $129.48 and $132.16 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.

Over the past year, Kimberly-Clark has traded in a range of $110.66 to $149.23 and is now at $130.35, 18% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.7%.

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 (NYSE:KMB) defies analysts with a current price ($130.35) 15.9% above its average consensus price target of $109.57. The stock should run into initial resistance at its 200-day moving average (MA) of $136.95 and subsequent resistance at its 50-day MA of $138.31.

SmarTrend is monitoring the recent change of momentum in Kimberly-Clark. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Kimberly-Clark in search of a potential trend change.

Keywords: bearish inside day candle kimberly-clark

Ticker(s): KMB