EquityPandit’s Outlook for Colgate Palmolive for the week  (April 03, 2017 – April 07, 2017) :

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on negative note losing around 1.60%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 1000 to 1010. 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. During the week the stock manages to hit a high of 1017 and close the week around the levels of 995.

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..

Minor resistance for the stock lies in the zone of 1000 to 1010. 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.

Broad range for the stock is seen between 960 to 970 on downside & 1020 to 1030 on upside.