EquityPandit’s Outlook for Colgate Palmolive for the week  (June 19, 2017 – June 23, 2017) :

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on positive note gaining around 1.70%.

As we have mentioned last week that resistance for the stock lies in the zone of 1090 to 1100 where the stock has formed a life time high in the month of April-2015. If the stock manages to close above these levels then the stock can move to the levels of 1125 to 1135 where Fibonacci levels are lying. During the week the stock manages to hit a high of 1101 and close the week around the levels of 1095.

Minor support for the stock lies in the zone of 1070 to 1080. Support for the stock lies in the zone of 1045 to 1055 from where the stock broke out of double top pattern. If the stock manages to close below these levels then the stock can drift to the levels of 1000 to 1010 where short term moving averages are lying.

Resistance for the stock lies in the zone of 1090 to 1100 where the stock has formed a life time high in the month of April-2015. If the stock manages to close above these levels then the stock can move to the levels of 1125 to 1135 where Fibonacci levels are lying.

Broad range for the stock is seen between 1050 to 1060 on downside & 1130 to 1140 on upside.