EquityPandit’s Outlook for Colgate Palmolive for the week (May 16, 2016 – May 20, 2016):

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on negative note losing around 1.60%.

As we have mentioned last week that resistance for the stock lies in the zone of 850 to 860 from where the stock has broken down. If the stock manages to close above these levels then the stock can move to the levels of 880 to 890 where 500 Daily SMA and 100 Weekly SMA is lying. During the week the stock manages to hit a high of 854 and close the week around the levels of 837.

Support for the stock lies in the zone of 800 to 810 where the stock has formed a short term bottom. If the stock manages to close below these levels then the stock can drift to the levels of 790 where 200 Weekly SMA is lying.

Resistance for the stock lies in the zone of 850 to 860 from where the stock has broken down. If the stock manages to close above these levels then the stock can move to the levels of 880 to 890 where 500 Daily SMA and 100 Weekly SMA is lying.

Broad range for the stock is seen between 800 to 810 on lower end and 850 to 855 on upper end.