EquityPandit’s Outlook for Colgate Palmolive for week (July 20, 2015 – July 24, 2015):
Colgate Palmolive (NSE: COLPAL) closed the week on positive note gaining around 2%.
The stock has formed a Bullish Harami pattern on weekly charts indicating the end of downtrend in the stock.
The stock has been facing the resistance around the downward sloping trend-line positioned at the levels of 2060.
If the stock manages to cross over the levels of 2060 the stock can move to the levels of 2100 to 2150 where upwards moving trend-line is positioned.
Support for the stock lies in the range of 1980 to 2000 where short term moving averages are positioned.
Broad range for the stock is seen between 1980 to 2000 on lower end and 2080 to 2120 on upper end.