Clorox Technical Analysis (NYSE:CLX)
Technical analysis is based on the study of past price and volume movements of a security with the help of technical stock charts or trading charts. Just by looking at the Clorox stock price one can't take a trading decision. A trader needs to find a chart pattern, which is a clear cut pattern formation on the CLX stock chart which creates a trading signal.
View technical indicators like moving averages - SMA and EMA, and bollinger bands for Clorox. Technical analysis essentially tries to study the supply and demand for a particular security and determine the stock trends for that security. Chartists use stock price movements for this form of Clorox stock analysis.
Clorox Moving Average
Moving averages help predict the price direction of CLX stock based on certain triggers, but with a lag, and form building blocks for other technical indicators like the MACD and bollinger bands. A key factor that impacts moving averages is the lag factor. The 20 day moving average of $131.58 is below the price of $134.46.
Clorox Bollinger Bands
Bollinger bands comprise of a center line usually CLX SMA, and two CLX stock price bands above and below it. The stock is considered overbought when the price starts moving closer towards the upper band, and is considered oversold as stock price moves closer towards the lower band. The stock price is trading between the average and the upper band in the context of Clorox bollinger bands.
Clorox Moving Average Convergence Divergence or MACD
Two important concepts with respect to moving average convergence divergence or MACD are: crossovers and divergence. When the MACD rises above the signal line, it typically indicates a bullish trend and most likely the stock prices will go up. The Clorox MACD line is above the signal line.
Clorox Relative Strength Index
The RSI technical indicator is a momentum oscillator. It compares the speed and change in price movements. If the RSI of CLX stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.