Clorox 
CLX is rebounding from the $117 swing low on rising volume.
Fibonacci measured from the Jul-’24 high ($171.37) to that low shows the 50 % retrace at $144.36.
A nine-wave corrective drop has completed, and the daily RSI crossover mirrors the two prior bottoms highlighted on the chart.
Confluence to the upside
Street context
Trade Setup
NOT FINANCIAL ADVICE! Always manage risk!
CLX is rebounding from the $117 swing low on rising volume. Fibonacci measured from the Jul-’24 high ($171.37) to that low shows the 50 % retrace at $144.36.
A nine-wave corrective drop has completed, and the daily RSI crossover mirrors the two prior bottoms highlighted on the chart.
Confluence to the upside
- Bullish RSI divergence off the 30-line
- Price back above the 9-EMA ribbon: targets 23.6 % ($130.10), 38.2 % ($137.99), 50 % ($144.36)
- 200-DMA ≈ $150 — often acts as a magnet once 50 % breaks
Street context
- Consensus 12-mo target sits around $150–152 (FactSet), with the high at $165 and low at $130.
- Short interest ≈ 3 % of float—no squeeze fuel, but little overhead supply until the $140s.
- Next catalyst: FY-Q4 earnings – guidance indicates week of Jul 29 to Aug 2 (date TBD); options price an implied ±4 % move.
Trade Setup
- Entry zone: $123–126
- Primary target: $144 (50 % fib).
- Secondary target: $149–150 200-DMA / analyst mean.
- Invalidation: Daily close back below $118.
NOT FINANCIAL ADVICE! Always manage risk!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.