EquityPandit’s Outlook for Colgate Palmolive for the week  (April 17, 2017 – April 21, 2017) :

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on positive note gaining around 0.40%.

As we have mentioned last week that resistance for the stock lies in the zone of 1020 to 1030 where the stock has formed a double top pattern in the month of August-2016 and November-2016. If the stock manages to close above these levels then the stock can move to the levels of 1090 to 1100 where the stock has formed a life time high in the month of April-2015. During the week the stock manages to hit a high of 1030 and close the week around the levels of 1015.

Minor support for the stock lies in the zone of 995 to 1000. Support for the stock lies in the zone of 975 to 980 where Fibonacci level is lying. If the stock manages to close below these levels then the stock can drift to the levels of 945 to 950 from where the stock broke out after consolidation..

Resistance for the stock lies in the zone of 1020 to 1030 where the stock has formed a double top pattern in the month of August-2016 and November-2016. If the stock manages to close above these levels then the stock can move to the levels of 1090 to 1100 where the stock has formed a life time high in the month of April-2015.

Broad range for the stock is seen between 970 to 980 on downside & 1040 to 1050 on upside.