Clorox (CLX): MACD Oversold Status Needs Relief

in money •  6 months ago


Note: For anyone who missed the BitcoinLive Information Webinar, here is the replay link:

As of June 4, ALL Crypto Analysis will be posted on the BitcoinLive channel and Steemit will be dedicated for Equity, Commodity and Options Analysis. To Signup for the BitcoinLive limited Founding Membership slots, use this link:


Clorox Corp. (CLX) had been showing signs of wave 3 topping since 2017 with the overlapping price swings which could continue; but not required. It's likely that blue 3 is finished and blue 4 is in progress. Some have thought that blue 3 is actually blue 5 but I believe that wave is yet to come; as shown in the below chart.

The MACD is clearly oversold and will like needs some relief (blue circle). The red B wave bounce is also a bit overdue and the MACD rise should coincide. Blue wave 4 shouldn't decline deeper than 38% or so of blue wave 3, or else it risks and overlap with blue wave 1 and that's against EW rules. The subwaves of blue 3 also qualify the confidence of the current count. Blue wave 5 should take price to never seen before heights.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  


could you checkout my first ever videos made on dTube and dLive?
These are my shots from my 3rd live stream on dLive :)

Thank you for all your support! I really appreciate that!

Seen from the point of view of human science now it is in dire need of information. Therefore very useful information is liked by people who need. As the news written and published by (@haejin) is very useful I always follow this news can add to our knowledge of me in terms of information and good work news (@haejin)

i liked this so i resteem this post :)

Thanks for this information, it is useful and it is very well detailed, I will review it, greetings!