EquityPandit’s Outlook for Colgate Palmolive for the week  (Aug 28, 2017 – Sep 01, 2017) :

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on positive note gaining around 1.90%.

As we have mentioned last week that 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. During the week the stock manages to hit a high of 1098 and close the week around the levels of 1094.

Support for the stock lies in the zone of 1080 to 1090 where Fibonacci level and short term moving average are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1040 to 1050 where medium term moving averages are lying.

Minor resistance for the stock lies in the zone of 1100 to 1110. Resistance for the stock lies in the zone of 1125 to 1135 where Fibonacci levels and high for the month of July-2017 are lying. If the stock manages to close above these levels then the stock can move to the levels of 1150 to 1160.

Broad range for the stock is seen between 1050 to 1060 on downside & 1130 to 1140 on upside.