Looking at the volume of trading of Church & Dwight (CHD) , I would say that it has been under accumulation (read buying) since May and an upside breakout is getting close. Let's check out the latest charts and indicators for some price targets.
In this daily bar chart of CHD, below, we can see a decline from July to early November followed by a rally. Both of these trends are interesting when we look at the movement of the On-Balance-Volume (OBV) line. From a low in May the OBV line rises through to today. CHD declines from $54 to below $44 and the OBV is steady to slightly higher. Buyers were quietly buying all the way down!
The OBV line turns up stronger in November as prices rallied. Over the past four months CHD has crossed above and below the 50-day and 200-day moving average lines. It won't take much of a rally for CHD to be back above these indicators.
The trend-following Moving Average Convergence Divergence (MACD) oscillator has spent much of its time since early December above the zero line and a fresh go long signal could be seen again if CHD rallies above $51.
In this weekly bar chart of CHD, below, we can see that prices in the last four months have been above and below the declining 40-week moving average line. The bigger picture of the last three years is an uptrend. A rally above $54 will be a new high and would refresh the advance. The weekly OBV line bottomed in November 2016 and suggests a long period of accumulation. The weekly MACD oscillator is rising and above the zero line - a bullish configuration.
In this Point and Figure chart of CHD, below, we can see a long-term uptrend. An upside price target of $75 is being projected.
Bottom line: Traders could go long on strength above $51 and add on gains over $54. $75 is the longer-term upside price objective. Risk a decline back under $47 - the recent low.
