EquityPandit’s Outlook for Colgate Palmolive for the week (February 06, 2017 – February 10, 2017) :

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on positive note gaining around 2.70%.

As we have mentioned last week that the stock has closed around the support zone of 878 to 882 where the stock has taken multiple support and Fibonacci level is lying. If the stock manages to close below these levels then the stock can drift to the levels of 850 to 860 from where the stock has broken out of the consolidation zone from February-2016 to May-2016. During the week the stock manages to hit a low of 861 and close the week around the levels of 903.

Minor support for the stock lies in the zone of 890 to 895. Support of the stock lies in the zone of 878 to 882 where the stock has taken multiple support and Fibonacci level is lying. If the stock manages to close below these levels then the stock can drift to the levels of 850 to 860 from where the stock has broken out of the consolidation zone from February-2016 to May-2016.

Resistance for the stock lies in the zone of 915 to 920 where 200 Daily SMA and highs of January-2017 is lying. Resistance for the stock lies in the zone of 940 to 950 where the stock has formed a top in December-2016 and Fibonacci level is lying. If the stock manages to close above these levels then the stock can move to the levels of 980 to 990.

Broad range for the stock is seen between 880 to 885 on lower end and 930 to 940 on upper end.