OptionsPlay DailyPlay

The bearish DailyPlay for Tuesday, November 17th is Clorox Co (CLX). CLX has declined 5.03% in the last month and 1M and 6M trends turned bearish on November 9th. 

Fundamental View

  • Facing increasing competition due to the low barrier of entry for cleaning products in the current environment.
  • Vaccine optimism leading to reduced demand for cleaning products in the future.
  • Earnings Feb 4th 2021 (79 days)

Technical View

  • Broke below the $205 support area and is retesting it providing a good risk/reward short entry
  • Very weak relative strength score (2 out of 10)
  • Both 1M and 6M trends are bearish