CLX is testing a resistance label from where it previously had a sharp decline. It also seems forming Adam & Eve double top formation.
It also has Over 10 million reported insider selling. Overall it is an interesting short setup & we think it can decline down to 113 area.
Please check back for Trade updates. (Note: Trade update is little delayed here.)
It also has Over 10 million reported insider selling. Overall it is an interesting short setup & we think it can decline down to 113 area.
Please check back for Trade updates. (Note: Trade update is little delayed here.)
Note
March 27th - Seems rolling over, but did not hit entry yet.Trade active
March 30th - Declined & hit our entry price today, and closed at the bottom of the range. Looking very good as short. Would consider July $140 Puts, last traded for $7.70Note
March 31st - Small but continues decline, looking good as short.Note
April 3rd - Down trend continued with increase in volume. July $140 Puts traded as high as $8.60Note
April 10th - Getting some resistance in MA50, wait & see situation.Note
April 12th- updating our stop loss criteria to $137.47
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Like what you see? Get full access to our 3X daily members only video/txt alerts & live trading room at smartmoneytrading.com/now
Check out some of our free video examples @ smartmoneytrading.com/insights/
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Related publications
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.