EquityPandit’s Outlook for Colgate Palmolive for the week (October 24, 2016 – October 28, 2016) :

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on positive note gaining around 3.70%.

As we have mentioned last week that 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. During the week the stock manages to hit a low of 908 and close the week around the levels of 955.

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 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.

Broad range for the stock is seen between 920 to 930 on lower end and 980 to 990 on upper end.