Household Products Name Setting up High Tight Bull Flag
Clorox (CLX) shares of the consumer staple name are forming a bull flag near highs after the recent dip found support at 158 where a small open gap was filled from late August and closed Monday back over its 8-day EMA and looks ready to run back to 165-166 at its value high for the month. CLX is a higher beta consumer staple name so some opportunity for a quick trade back to highs and if the markets see some sector rotation back into staples, then it could resolve much higher. CLX does not report till the end of the month, but its peer PG will report this Friday AM so could also be a sympathy mover.