EquityPandit’s Outlook for Colgate Palmolive for the week (July 23, 2018 – July 27, 2018) :

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on negative note losing around 3.00%.

As we have mentioned last week, that support for the stock lies in the zone of 1140 to 1150 from where the stock broke out and medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1080 to 1100 where long term moving averages are lying. During the week the stock manages to hit a low of 1098 and close the week around the levels of 1125.

Support for the stock lies in the zone of 1080 to 1100 where long term moving averages and Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1030 to 1040 from where the stock broke out in the month of March-2018 and Fibonacci levels are lying.

Minor resistance for the stock lies in the zone of 1150 to 1160. Resistance for the stock lies around 1200 to 1220 from where the stock has broken down and short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1230 to 1250.

Broad range for the stock is seen between 1060 to 1080 on downside & 1160 to 1180 on upside.