EquityPandit’s Outlook for Colgate Palmolive for the week (October 17, 2016 – October 21, 2016) :

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on negative note losing around 5.00%.

As we have mentioned last week that support for the stock lies in the zone of 955 to 960 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 920 to 930 where the stock has formed a bottom in the month of July – 2016 and August – 2016. During the week the stock manages to hit a low of 911 and close the week around the levels of 920.

Support for the stock lies in the zone of 920 to 930 where the stock has formed a bottom in the month of July – 2016 and August – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 895 to 900 where 200 Daily SMA is lying.

Resistance for the stock lies in the zone of 935 to 940 where medium term moving averages, 500 Daily SMA is lying and lows for the month of August – 2016 is lying. If the stock manages to close above these levels then the stock can move to the levels of 950 to 955 where short term moving averages are lying.

Broad range for the stock is seen between 890 to 900 on lower end and 950 to 955 on upper end.