Clorox Co (CLX) – Competition Looms – November 17th, 2020
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.
- 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)
- 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