Jim Van Meerten's  Instablog

The Chart of the Day is Clorox (CLX) which was found by sorting theBarchart New High List for frequency. The stock has a 96% Barchart technical buy signal and has increased 15 times for a 7.65% gain in the last month. The Trend Spotter signaled a buy on 1/14.

Clorox Company's business operations, represented by the aggregate of its U.S. Household Products and Canada, U.S. Specialty Products and International segments, include the production and marketing of non-durable consumer products sold primarily through grocery and other retail stores.

(click to enlarge)

Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

• 96% Barchart technical buy signals
• Trend spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 15 new highs and up 7.65% in the last month
• Relative strength Index 76.76%
• Barchart computes a technical support level at 81.41
• Recently traded at 83.40 with a 50 day moving average of 77.60

Fundamental factors:

• Market Cap - $10.88 billion
• P/E 19.29
• Dividend yield 3.08%
• Analysts issued 14 hold and 1 sell recommendation
• Revenue projected to increase by 4.10% this year and another 3.30% next year
• Earnings estimated to increase by 5.90% this year, an additional 8.30% next year and continue to increase on an annual basis of 8.50% for the next 5 years
• Financial strength B++

Exit strategy - Hold until the stock drops 10% below your entry point or begins trading below its 50 day moving average.