EquityPandit’s Outlook for Colgate Palmolive for the week (March 14, 2017 – March 17, 2017) :

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on positive note gaining around 4.00%.

As we have mentioned last week that 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. During the week the stock manages to hit a high of 949 and close the week around the level of 946.

Support for the stock lies in the zone of 920 to 925 where 200 Daily SMA and break out levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 900 to 905 from where the stock broke out on intraday basis.

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 970 to 980 where Fibonacci level is lying.

Broad range for the stock is seen between 910 to 920 on downside & 970 to 980 on upside.