EquityPandit’s Outlook for Colgate Palmolive for the week (May 09, 2016 – May 13, 2016):

COLGATE PALMOLIVE:

Colgate Palmolive closed the week on positive note gaining around 1.20%.

As we have mentioned last week that resistance for the stock lies in the zone of 850 to 860 from where the stock has broken down. If the stock manages to close above these levels then the stock can move to the levels of 880 to 890 where 500 Daily SMA and 100 Weekly SMA is lying. During the week the stock manages to hit a high of 859 and close the week around the levels of 850.

Support for the stock lies in the zone of 825 to 830 where short term moving averages and the channel support for the stock is lying. If the stock manages to close below these levels then the stock can drift to the levels of 790 to 800 where the stock has formed a short term bottom.

Resistance for the stock lies in the zone of 850 to 860 from where the stock has broken down. If the stock manages to close above these levels then the stock can move to the levels of 880 to 890 where 500 Daily SMA and 100 Weekly SMA is lying.

Broad range for the stock is seen between 820 to 830 on lower end and 860 to 865 on upper end.