EquityPandit’s Outlook for Colgate Palmolive for the week  (Aug 21, 2017 – Aug 25, 2017) :

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on positive note gaining around 2.60%.

As we have mentioned last week that support for the stock lies in the zone of 1030 to 1040 where Fibonacci level and medium term moving average are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1000 to 1010. During the week the stock manages to hit a low of 1040 and close the week around the levels of 1074.

Minor support for the stock lies in the zone of 1055 to 1060. Support for the stock lies in the zone of 1030 to 1040 where Fibonacci level and medium term moving average are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1000 to 1010.

Resistance for the stock lies in the zone of 1080 to 1090 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 1125 to 1135 where Fibonacci levels are lying.

Broad range for the stock is seen between 1040 to 1050 on downside & 1120 to 1130 on upside.