EquityPandit’s Outlook for Colgate Palmolive for the week (July 30, 2018 – Aug 03, 2018) :

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on negative note losing around 2.00%.

As we have mentioned last week, that support for the stock lies in the zone of 1080 to 1100 where long term moving averages and Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1030 to 1040 from where the stock broke out in the month of March-2018 and Fibonacci levels are lying. During the week the stock manages to hit a low of 1068 and close the week around the levels of 1102.

Support for the stock lies in the zone of 1060 to 1080 where long term trend-line support and Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1030 to 1040 from where the stock broke out in the month of March-2018 and Fibonacci levels are lying.

Resistance for the stock lies around 1140 to 1160 from where the stock has broken down and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1180 to 1190 where high for the month of July-2018 and short term moving averages are lying.

Broad range for the stock is seen between 1040 to 1060 on downside & 1140 to 1160 on upside.