EquityPandit’s Outlook for Colgate Palmolive for the week  (Dec 04, 2017 – Dec 08, 2017) :

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on negative note losing around 2.50%.

As we have mentioned last week that support for the stock lies in the zone of 1030 to 1040 from where the stock has broken out of April-2017 highs. If the stock manages to close below these levels then the stock can witness a major breakdown and can drift to the levels of 960 to 970 from where the stock has bounced in the month of May-2017. During the week the stock manages to hit a low of 1025 and close the week around the levels of 1029.

Support for the stock lies in the zone of 1020 to 1030 where the stock has taken multiple support. If the stock manages to close below these levels then the stock can witness a major breakdown and can drift to the levels of 960 to 970 from where the stock has bounced in the month of May-2017.

Minor resistance for the stock lies in the zone of 1055 to 1060. Resistance for the stock lies in the zone of 1070 to 1080 where short & medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1130 to 1135 from where the stock has broken down after consolidation.

Broad range for the stock is seen between 980 to 990 on downside & 1060 to 1070 on upside.