EquityPandit’s Outlook for Colgate Palmolive for the week (November 01, 2016 – November 04, 2016) :

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on positive note gaining around 1.90%.

As we have mentioned last week that resistance for the stock lies in the zone of 955 to 960 from where the stock broke down from the consolidation zone. If the stock manages to close above these levels then the stock can move to the levels of 990 to 1000 where the stock has formed a double top pattern. During the week the stock manages to hit a high of 993 and close the week around the levels of 973.

Minor support for the stock lies in the zone of 955 to 965. Support for the stock lies in the zone of 935 to 940 where medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 900 to 910 where 200 Daily SMA is lying.

Resistance for the stock lies in the zone of 990 to 1000 where the stock has formed a double top pattern. If the stock manages to close above these levels then the stock can move to the levels of 1030 to 1040 where the stock has formed a top in the month of August – 2016.

Broad range for the stock is seen between 945 to 950 on lower end and 995 to 1000 on upper end.