Like most indices and stocks, Kimberly is showing signs of a top. Kimberly Clark isn't as correlated with the Dow as let's say AXP, Disney or JPM, but it moves in the same direction on the longer term, so a short in Kimberly is a short on US market.
Starting with the weekly chart, which is screaming to me SELL SELL! Class A bearish divergence on the MACD lines, combined with a huge bearish divergence on the histogram. I circled the bull power so you can compare, and as you can see bulls lost most of the steam. There is also a Double top formation, and the candlesticks speak for themselves, spinning top followed by engulifing. All these factors on a weekly chart make me extremely bearish.
Moving on to the daily, where we have the double top in mor detail. Here only a class B bearish divergence, but it is a huge one. Also, there is an evening star formation, with three shooting stars. Support lines are labeled in red, but the strong support is at 100$ psychological level. I didn't set the target there because it is quite far, first let's see what will happen at the first support level, 106.
Starting with the weekly chart, which is screaming to me SELL SELL! Class A bearish divergence on the MACD lines, combined with a huge bearish divergence on the histogram. I circled the bull power so you can compare, and as you can see bulls lost most of the steam. There is also a Double top formation, and the candlesticks speak for themselves, spinning top followed by engulifing. All these factors on a weekly chart make me extremely bearish.
Moving on to the daily, where we have the double top in mor detail. Here only a class B bearish divergence, but it is a huge one. Also, there is an evening star formation, with three shooting stars. Support lines are labeled in red, but the strong support is at 100$ psychological level. I didn't set the target there because it is quite far, first let's see what will happen at the first support level, 106.