3 Things I See On KMB…

  • May 20, 2005
  • Derrick Hobbs


Kimberly Clark (KMB) has made a fast run in the last week from 62 up to 65.
However, this fast run looks like it is about to set up for a short swing trade.
Here’s what I see:

1)     
A very clear Head and Shoulders
pattern where we have come back to test the neckline. Typically an area to
consider short trades.

2)     
Big Fibonacci price resistance zone
from 65 to 67

3)     
We have 4 time cycles calling for a
possible reversal over the coming week.

With these three criteria in
place, I’m just looking for a daily candlestick pattern to justify a short entry
into KMB.

Have a great weekend all!

Derrik