EquityPandit’s Outlook for Colgate Palmolive for the week (May 07, 2018 – May 11, 2018) :

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on negative note losing around 0.40%.

As we have mentioned last week, that resistance for the stock lies in the zone of 1130 to 1140 from where the stock broke down after consolidation. If the stock manages to close above these levels then the stock can move to the levels of 1170 to 1180 where the stock has formed a top in the month of January-2018. During the week the stock manages to hit a high of 1142 and close the week around the levels of 1098.

Support for the stock lies in the zone of 1070 to 1080 where short; medium & long term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1020 to 1040 where the stock has taken multiple supports in the month of November-2017 & December-2017.

Resistance for the stock lies in the zone of 1130 to 1140 from where the stock broke down after consolidation. If the stock manages to close above these levels then the stock can move to the levels of 1170 to 1180 where the stock has formed a top in the month of January-2018.

Broad range for the stock is seen between 1040 to 1050 on downside & 1150 to 1160 on upside.