More Upside for Kimberly-Clark ?

Published on Friday, 03 August 2012 12:34 Written by TradersHuddle Wire

New York, August 3rd (TradersHuddle.com) - Shares of Kimberly-Clark Corporation (NYSE:KMB) booked a new 52 week high today by trading above $88, traders are definitely monitoring Kimberly-Clark's price action to see if this move attracts further buying into the stock.

Kimberly-Clark Corporation (NYSE:KMB) is a global health and hygiene consumer products company. Its products include diapers, tissues, paper towels, incontinence care products, surgical gowns, and disposable face masks. Kimberly-Clark sells its product using many brands, including Huggies, Pull Ups, Kleenex, and Cottonelle.

Kimberly-Clark is currently trading 0.6% versus its previous trading session close, and it has calculated support and resistance at $70.50 and $88.00 respectively. Clearly, with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range.

The overall market index S&P 500 is trading higher by 2.09% from its previous trading close, which means that Kimberly-Clark stock is underperforming the overall market.