A possbile short term uptrend in Colgate Palmolive

After forming an ascending wedge pattern for 2 months, the stock seems to break downwards. But if we closely observe the 1 min chart of past 4 days which forms a descending channel pattern, the last day seems to come out of the channel and form a hammer . This could mean a pull back from the break down and possible short term uptrend. Alternately the overall one day pattern can also be seen as ascending channel and a possible breakdown at later point of time.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.