EquityPandit’s Outlook for Colgate Palmolive for the week (June 20, 2016 – June 24, 2016):

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on negative note losing around 1.90%.

As we have mentioned last week that minor support for the stock lies in the zone of 855 to 860. Support for the stock lies in the zone of 840 to 845 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 800 to 810 where the stock has formed a short term bottom. During the week the stock manages to hit a low of 850 and close the week around the levels of 856.

Support for the stock lies in the zone of 842 to 847 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 800 to 810 where the stock has formed a short term bottom.

Resistance for the stock lies in the zone of 890 to 900 where 200 & 500 Daily SMA and 100 Weekly SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 950 from where the stock has sold off in the month of Jan – 2016.

Broad range for the stock is seen between 840 to 845 on lower end and 890 to 900 on upper end.