Clorox Company (The)
Long

CLS Short again on overextended buying

53
Weekly analysis:
- Huge move up, broke resistance at 160 and instantly went to penetrate 165. Move is too fast without resting
- Topping tail
- Good move down to 1.1 R without much resistance
istantanea

Daily analysis:
- Nice long topping tail with decent volume
- 2 Huge green candle up not much resistance going down
istantanea

Intraday analysis:
- End the day with a inverted hammer with decent volume (bearish)
istantanea

Main concerns:
- Volume on the topping tail candle today is not a stand out volume, just slightly higher compared to average bearish volume
- Counter trend trade, unable to have bigger targets. Stick with 50% retracement to be safe which is about 1.1 R


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