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 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