Economies.com provides the latest technical analysis and forecast of the american stocks, in order to keep track of the trend of the US stocks.
Clorox's stock rose amid support from the 50-day SMA, with the dominance of the upward correctional short-term wave, while trading alongside the main upward short-term trend line, with negative signals from the RSI after reaching overbought levels, with the stock scoring a profit of 0.80%, or 1.25 points, settling at 158.28, with trading volumes surpassing 1.2 million shares, less than 10-day averages of 1.7 million shares.
The stock closed below 52-week averages at 191.75, scaled on July 19, with weak performance compared to rivals such as Henkel AG, and RBGPF, after Clorox reduced forecasts for yearly profits once gain, while net sales rose 2%/
Therefore we expect more gains for the stock, targeting the resistance of 171.70, provided it holds above 151.29.
Expected trend for today: Bullish