EquityPandit’s Outlook for Colgate Palmolive for the week (Aug 20, 2018 – Aug 24, 2018) :

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on positive note gaining around 0.40%.

As we have mentioned last week, that resistance for the stock lies around 1150 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 is lying. During the week the stock manages to hit a high of 1151 and close the week around the levels of 1143.

Minor support for the stock lies around 1110 to 1120. 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 1150 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 is lying.

Broad range for the stock is seen between 1100 to 1120 on downside & 1180 to 1200 on upside.