Are there companies who can benefit from the latest coronavirus outbreak? Jim Cramer pointed out Clorox Co. (CLX) as one winner in this situation in his Real Money column "6 Stocks to Buy on Coronavirus Fears," as bleach is highly regarded for its disinfecting qualities.
We last looked at the charts of CLX back in late November in advance of the turn higher. Let's check out the current quality of the charts and indicators of this iconic brand and Action Alerts PLUS holding.
In the daily bar chart of CLX, below, we can see that prices have been in an uptrend from late November. Prices closed above the rising 50-day moving average line in December and above the 200-day line earlier this month.
The trading volume seems to be about the same but the On-Balance-Volume (OBV) line has been going up from November telling us that buyers of CLX have been more aggressive.
The Moving Average Convergence Divergence (MACD) oscillator moved above the zero line in early December for a fresh buy signal.