EquityPandit’s Outlook for Colgate Palmolive for the week (Feb 18, 2019 – Feb 22, 2019) :

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on negative note losing around 4.40%.

As we have mentioned last week, that 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. During the week the stock manages to hit a low of 1216 and close the week around the levels of 1234.

Support for the stock lies in the zone of 1200 to 1220 where Fibonacci levels and long term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1160 to 1180 where Fibonacci levels are lying.

Minor resistance for the stock lies around 1250 to 1270. Resistance for the stock lies around 1330 to 1350 where Fibonacci extension levels are lying. 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 1160 to 1180 on downside & 1260 to 1280 on upside.