EquityPandit’s Outlook for Colgate Palmolive for the week  (May 22, 2017 – May 26, 2017) :

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on positive note gaining around 0.20%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 1030 to 1035. Resistance for the stock lies in the zone of 1045 to 1055 where the stock has formed a short term top. If the stock manages to close above these levels then the stock can move to the levels of 1090 to 1100 where the stock has formed a life time high in the month of April-2015. During the week the stock manages to hit a high of 1045 and close the week around the levels of 1016.

Minor support for the stock lies in the zone of 1000 to 1005. Support for the stock lies in the zone of 975 to 980 where Fibonacci level is lying. If the stock manages to close below these levels then the stock can drift to the levels of 945 to 950 from where the stock broke out after consolidation.

Minor resistance for the stock lies in the zone of 1030 to 1035. Resistance for the stock lies in the zone of 1045 to 1055 where the stock has formed a short term top. If the stock manages to close above these levels then the stock can move to the levels of 1090 to 1100 where the stock has formed a life time high in the month of April-2015.

Broad range for the stock is seen between 970 to 980 on downside & 1040 to 1050 on upside.