EquityPandit’s Outlook for Colgate Palmolive for the week (January 30, 2017 – February 03, 2017) :

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on negative note losing around 2.60%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 910 to 915. Resistance for the stock lies in the zone of 940 to 950 where the stock has formed a top in December-2016. If the stock manages to close above these levels then the stock can move to the levels of 980 to 990. During the week the stock manages to hit a high of 915 and close the week around the levels of 879.

The stock has closed around the support zone of 878 to 882 where the stock has taken multiple support and Fibonacci level is lying. If the stock manages to close below these levels then the stock can drift to the levels of 850 to 860 from where the stock has broken out of the consolidation zone from February-2016 to May-2016.

Minor resistance for the stock lies in the zone of 900 to 905. Resistance for the stock lies in the zone of 940 to 950 where the stock has formed a top in December-2016 and Fibonacci level is lying. If the stock manages to close above these levels then the stock can move to the levels of 980 to 990.

Broad range for the stock is seen between 850 to 860 on lower end and 910 to 920 on upper end.