Clorox Company (The) Stock Forecast
Green day on Thursday for Clorox Company (The)
(Updated on Apr 18, 2024)
The Clorox Company (The) stock price gained 0.604% on the last trading day (Thursday, 18th Apr 2024), rising from $142.34 to $143.20. During the last trading day the stock fluctuated 0.794% from a day low at $142.31 to a day high of $143.44. The price has fallen in 6 of the last 10 days and is down by -2.29% for this period. Volume fell on the last day by -114 thousand shares and in total, 700 thousand shares were bought and sold for approximately $100.28 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $140.40 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Clorox Company (The) stock with a 90% probability to be traded between $138.08 and $153.35 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CLX Signals & Forecast
There are mixed signals in the stock today. The Clorox Company (The) stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $149.22. On a fall, the stock will find some support from the short-term average at $142.81. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 1.90%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Clorox Company (The) stock
Clorox Company (The) finds support from accumulated volume at $142.74 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.13 between high and low, or 0.794%. For the last week, the stock has had daily average volatility of 1.66%.
Clorox Company (The) is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CLX) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Clorox Company (The) to open at $142.98, and during the day (based on 14 day Average True Range), to move between $140.66 and $145.74, which gives a possible trading interval of +/-$2.54 (+/-1.78%) up or down from last closing price. If Clorox Company (The) takes out the full calculated possible swing range there will be an estimated 3.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $142.74 (0.32%) than the resistance at $147.66 (3.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Clorox Company (The) stock A Buy?
Clorox Company (The) holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.252 Sell Candidate Unchanged
Predicted Opening Price for Clorox Company (The) of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $142.98 ( 0.151%) | $143.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CLX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 144.11 | 0.638 % | |
| R2 | 143.68 | 0.336 % | ||
| R1 | 143.41 | 0.150 % | ||
| Current price: | 143.20 | |||
| Support | S1 | 142.55 | -0.453 % | |
| S2 | 142.28 | -0.639 % | ||
| S3 | 141.85 | -0.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 156.36 | 9.19 % | |
| R2 | 153.31 | 7.06 % | ||
| R1 | 147.66 | 3.11 % | ||
| Current price | 143.20 | |||
| Support | S1 | 142.74 | -0.321% | |
| S2 | 142.22 | -0.684% | ||
| S3 | 139.73 | -2.42% |
CLX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 27, 2024 | Apr 24, 2024 | May 10, 2024 | $1.20 | 0.84% |
| 2 | Feb 28, 2024 | Apr 23, 2024 | May 10, 2024 | $1.20 | 0.84% |
| 3 | Nov 14, 2023 | Jan 23, 2024 | Feb 09, 2024 | $1.20 | 0.783% |
| 4 | Sep 20, 2023 | Oct 24, 2023 | Nov 09, 2023 | $1.20 | 0.91% |
| 5 | Jul 27, 2023 | Aug 08, 2023 | Aug 25, 2023 | $1.20 | 0.777% |
FAQ
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