July 11 Chart of the Day - Kimberly Clark

Precision oriented price action technical analysis by far provides the best edges and most setups for traders and investors across the markets so that's what we use for the basis of our reviews

Kimberly-Clark Corporation (KMB) is a multinational consumer goods and personal care corporation that produces mostly paper-based products.

The company will issue its second quarter 2024 results on Tuesday, July 23 before market open so today we'll take a look at their chart from a price action technical analysis perspective. 

We have featured over 250 Charts of the Day during the past year+ and teach Price Action Trading for FREE  to traders who join our Highly Rated Trade Room.

Monthly Chart 

On the monthly chart we can see that after setting its $160.16 all time high (ATH) back in 2020 when everyone was buying all the toilet paper they could find share price fell significantly and has essentially been trading sideways the last two years.

We can also see new structure has been carved out in the form of an upward sloping and downward sloping trendlines. 

Weekly Chart

 
On the weekly chart we can see with much more clarity price setting ATHs and fading and cycling back down towards previous structure including the immense chopping up/down action.

In fact, price has crossed a change control zone (gray rectangle) several dozen times the last 5 years.  

Change control zones are one of the five price action tools we teach when charting anything.  By definition, they are an area that represents where neither the bulls nor bears are in charge.  Price can slash though the zone with seemingly reckless abandon, price can respect the top or bottom from outside it or within it.  Or, price can trade aimlessly sideways within it.  When price breaks away from the zone it can often get drawn back to it like a magnet. And in this case we see all of the above are true.

We've layered in Fibonacci as well as traditional support/resistance to help identify potential price levels of interest and/or future price targets.

Only time will tell for sure what price will do next...

Armed with precision oriented charts like these both traders and investors can formulate their respective plans.

So what's next?