EquityPandit’s Outlook for Colgate Palmolive for the week (Dec 10, 2018 – Dec 14, 2018) :

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on positive note gaining around 1.20%.

As we have mentioned last week, that support for the stock lies in the zone of 1170 to 1190 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1120 to 1140 where long & medium term moving averages and Fibonacci levels are lying. During the week the commodity manages to hit a low of 1190 and close the week around the levels of 1235.

Minor support for the stock lies in the zone of 1210 to 1220. Support for the stock lies in the zone of 1170 to 1190 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1120 to 1140 where long & medium term moving averages and Fibonacci levels are lying.

Resistance for the stock lies around 1260 to 1280 where high for the month of May-2018 is lying. If the stock manages to close above these levels then the stock can move to the levels of 1330 to 1350.

Broad range for the stock is seen between 1140 to 1160 on downside & 1280 to 1300 on upside.