EquityPandit’s Outlook for Colgate Palmolive for the week (Dec 31, 2018 – Jan 04, 2019) :

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on negative note losing around 0.50%.

As we have mentioned last week, that resistance for the stock lies around 1330 to 1350 where Fibonacci extension levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 1380 to 1400. During the week the stock manages to hit a high of 1338 and close the week around the levels of 1320.

Support for the stock lies in the zone of 1260 to 1280 where high for the month of May-2018 is lying. If the stock manages to close below these levels then the stock can drift to the levels of 1220 to 1240 where Fibonacci levels are lying.

Resistance for the stock lies around 1330 to 1350 where Fibonacci extension levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 1380 to 1400.

Broad range for the stock is seen between 1260 to 1280 on downside & 1350 to 1370 on upside.