The_Patterns_Guy
Short

#KMB #stock #short

NYSE:KMB   KIMBERLY-CLARK CORP
KMB             has formed a double top . It has broken an uptrend on the daily chart . However, uptrend on the higher timeframe charts are still intact. the stock has also formed a inverted falling wedge . I expect it to retrace tot he top of the wedge this week. After that if the indicators suggest a continuation of the double top downtrend then I might jump in. Overall rating was 7 with nice RRR             of 13. What is nice about this stock is the option liquidity. You can play many different time frames and if you are wrong can find an exit. Playing options is a lot like life. Spend time doing your homework, then execute, and then assess. If you are wrong, acknowledge it quickly, cut your losses, then go with the best (or correct) idea. BUT you want to be in an environment where you can make mistakes and still recover. This is one of those stocks.



trading pattern criteria
confirmed pattern 1
pattern confirms trend or confirms broken trend 0
pattern is syemtrical 1
pattern leans in the direction of the move 1
stoch RSI confirms  1
macd confirms 1
obv confirms 0
pattern confirms on 1 higher time frame chart 1
pattern confirms on 2 higher time frame chart 1
pattern confirms on 1 lower time frame chart 0
Total score 7
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