Clorox Company (NYSE: CLX) The Clorox Co. engages in the manufacture and marketing of consumer and professional products. It operates through the following business segments: Health and Wellness, Household, Lifestyle, and International. The Health and Wellness segment consists of cleaning products, professional products and vitamins, minerals and supplements mainly marketed and sold in the United States. The company was founded by Edward Hughes, Charles Husband, William Hussey, Rufus Myers, and Archibald Taft on May 3, 1913 and is headquartered in Oakland, CA.
Will CLX Stock Reach to $150?
CLX stock shows a falling wedge pattern and has witnessed a correction. However, the Q1 2024 earnings impact led to a boon to the bulls and stock was celebrated the moment noted a surge of more than 6% in the yesterday trading session. The EPS recorded a massive increase of 5784.45% to $0.49. However, the trend is still negative, and bulls need to attain follow-on buying to register the reversal beyond the immediate hurdle of $135.
At press time, CLX stock price was $123.01 with an intraday gain of 6.61%, highlighting bullishness. Moreover, the trading volume increased by 1.45% to 3.90 Million and the market cap is $15.253 Billion. Furthermore, analysts have maintained a neutral rating with a yearly target price of $136.44 suggests a growth outlook for the upcoming sessions.
CLX Stock Price Prediction 2023
On the daily charts, CLX stock price surpassed the barrier of $115 decisively and is heading toward the 50 day EMA near $130. Furthermore, the price action showcased the short covering move due to the strong Q1 2024 numbers which were posted in the yesterday trading session.
The ongoing trend shows that CLX stock has a potential to reach the maximum of $150. If the stock fails to surpass the immediate barrier of $140, it will retest the $110 mark.
CLX Stock Price Prediction 2024
On the monthly chart, CLX stock price is trading near neutrality and is showcasing a falling wedge pattern which has an upper trendline of $145, if breached, it will lead to a fresh breakout and may retest the upside of $150.
As per the ongoing trend, CLX stock will probably reach the maximum of $155 by 2024.
Conversely, if the stock slips below the 20 day EMA, it will reach the minimum of $100 by 2024.
CLX Stock Price Prediction 2025
CLX stock showed a retracement and is taking support on the 20 day EMA on the charts. Moreover, the price action is favoring the bulls and suggests that the ongoing buying action will continue and stock will soon reach the $150 mark.
CLX stock has the potential to reach the maximum of $165 followed by $170 in the next few years. If the bears gain strength, then stock will slip below the round mark of $100 and may reach the minimum of $80 by 2025.
Summary
CLX stock price is trading near the trendline of $140 which if surpassed, the stock may reach the highs of $150. Moreover, the price action is favoring the bulls. CLX stock is a good value pick and a safe bet to add to the portfolio for the long term returns.The chart suggests that CLX stock will gain momentum and will reward the investors in the upcoming weeks.
Technical Levels
Support Levels: $120 and $110
Resistance Levels: $130 and $140
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/11/03/clx-stock-price-prediction-2023-25-will-clx-accumulate-gains/