EquityPandit’s Outlook for Colgate Palmolive for the week  (April 24, 2017 – April 28, 2017) :

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on positive note gaining around 1.70%.

As we have mentioned last week that 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. During the week the stock manages to hit a low of 980 and close the week around the levels of 1033.

Minor support for the stock lies in the zone of 1000 to 1010. 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 1025 to 1035 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 1000 to 1010 on downside & 1060 to 1070 on upside.