Clorox Company’s stock price (CLX) rose in the intraday levels, after the support of $138.75 held on, lending the stock some momentum, with positive signals from the RSI, while the stock tries to recoup some recent losses, as it faces negative pressure from the 50-day SMA, and amid the dominance of the downward secondary wave in the short term.

Therefore we expect the stock to return lower, targeting the support of $132.20, provided the initial support of $138.75 is reliably breached. 

Trend forecast: Likely Bearish