CLX is testing a resistance label from where it previously had a sharp decline. It also seems forming Adam & Eve double top formation. It also has Over 10 million reported insider selling. Overall it is an interesting short setup & we think it can decline down to 113 area.
Please check back for Trade updates. (Note: Trade update is little delayed here.)
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March 27th - Seems rolling over, but did not hit entry yet.
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March 30th - Declined & hit our entry price today, and closed at the bottom of the range. Looking very good as short. Would consider July $140 Puts, last traded for $7.70
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March 31st - Small but continues decline, looking good as short.
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April 3rd - Down trend continued with increase in volume. July $140 Puts traded as high as $8.60
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April 10th - Getting some resistance in MA50, wait & see situation.
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April 12th- updating our stop loss criteria to $137.47