Kimberly-Clark (KMB) has marched higher to a different drummer this year. What do I mean by that? KMB made a low in late October and never looked back. As of today the rally is $35/share and still going strong. Let's check the charts and indicators.
In this daily bar chart of KMB, below, we can see that prices are above the rising 50-day moving average line and above the bullish 200-day average line.
The daily On-Balance-Volume (OBV) line has been on rise from late October, signaling that buyers of KMB has been more aggressive.
The Moving Average Convergence Divergence (MACD) oscillator has been above the zero line for much of the time since late November.
In this weekly bar chart of KMB, below, we see that prices are not far below the highs of 2016 and 2017. Prices are above the rising 40-week moving average line and the weekly OBV line has been going up this calendar year.
The weekly MACD oscillator is in a bullish configuration above the zero line.
In this Point and Figure chart of KMB, below, we can see the major upside breakout on KMB around $118.86. An upside price target of $140 is not all that far away.
Bottom line strategy: Traders could probe the long side of KMB on some modest weakness towards $131, looking for $140 and maybe $150. Risk $128.
