EquityPandit’s Outlook for Colgate Palmolive for the week (Dec 03, 2018 – Dec 07, 2018) :

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on positive note gaining around 6.30%.

As we have mentioned last week, that resistance for the stock lies around 1160 to 1170 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 1190 to 1200 where high for the month of August-2018 and September-2018 is lying. During the week the stock manages to hit a high of 1264 and close the week around the levels of 1220.

Support for the stock lies in the zone of 1170 to 1190 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1120 to 1140 where long & medium term moving averages and Fibonacci levels are lying.

Resistance for the stock lies around 1260 to 1280 where high for the month of May-2018 is lying. If the stock manages to close above these levels then the stock can move to the levels of 1330 to 1350.

Broad range for the stock is seen between 1140 to 1160 on downside & 1280 to 1300 on upside.