EquityPandit’s Outlook for Colgate Palmolive for the week (Dec 17, 2018 – Dec 21, 2018) :

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on positive note gaining around 6.20%.

As we have mentioned last week, that 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. During the week the stock manages to hit a low of 1190 and close the week around the levels of 1312.

Support for the stock lies in the zone of 1260 to 1280 where high for the month of May-2018 is lying. If the stock manages to close below these levels then the stock can drift to the levels of 1220 to 1240 where Fibonacci levels are lying.

Resistance for the stock lies around 1330 to 1350. If the stock manages to close above these levels then the stock can move to the levels of 1380 to 1400.

Broad range for the stock is seen between 1240 to 1260 on downside & 1350 to 1370 on upside.