Clorox Co (CLX) Gets Slammed After Earnings, Watch This Trade Level

Leading consumer products stock, Clorox Inc (CLX), is declining sharply after reporting earnings. The company missed on revenues and guided below consensus. This morning, the stock is falling by 10.97% to $161.28 a share. Clorox Co (CLX) stock just broke below its important 200-week moving average. This puts the stock in a weak technical position on the charts and often signals lower share prices ahead.

The next major support level for Clorox Co (CLX) is around the $150.00 area. This support area is where the stock broke out to the upside in October 2019. Very often when a stock will backtest its prior breakout level it will be defended by the institutional crowd. I will look to be a buyer of Clorox CO (CLX) stock around this key support level. 

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