Clorox Company Gets Bleached
InTheMoneyStocks.com | Aug 05, 2014 01:23AM ET
This morning, the leading consumer and professional products manufacturer The Clorox Company (NYSE:CLX) is coming under some sharp selling pressure. Today, the stock is declining lower by $1.60 to $87.60 a share. On August 1st, the company reported earnings that were below analysts expectations. The company stated that net income fell to $170 million, or $1.29 per share, from $183 million, or $1.37 per share, in the same quarter a year earlier. Traders and investors will now have to look to the charts to find the next major support area for the stock. The next important support level for The Clorox Company stock will be around the $85.70 area. This was a level on the chart were the stock was defended in early February 2014. Generally, prior support levels will serve as important support when retested, so this area is where traders can expect a bounce in The Clorox Company.
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