Clorox Bulls in Charge

Published on Monday, 08 October 2012 12:34 Written by TradersHuddle Wire

New York, October 8th (TradersHuddle.com) - Shares of Clorox Company (NYSE:CLX) booked a new 52 week high today by trading above $73.65, traders are definitely monitoring Clorox's price action to see if this move attracts further buying into the stock.

The Clorox Company (NYSE:CLX) principal activities are production, marketing and sales of consumer products through mass merchandisers, grocery stores and other retail outlets. The company produces household cleaning, bleach, auto-care and other home care products, water filtration products, food storage and trash disposal categories.It also produces specialty items that include automotive care, cat litter, insecticides, dressings and sauces and professional product categories.

Clorox is currently trading 0.27% versus its previous trading session close, and it has calculated support and resistance at $73.74 and $73.74 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 lower by -0.43% from its previous trading close, which means that Clorox stock is outperforming the overall market.