Date: 19 Feb 2021
Colgate Palmolive is looking bearish due to the diamond chart pattern formation. The stock may fall by 12% for a target of 1,366. Keep a SL at 1,600.
COLGATE PALMOLIVE Downtrend
Colgate Downtrend, a pullback and downtrend continues,
if support area of 1520 will break and stays below, then further downside can be seen upto 1488-1465.
And if reverse from this area resistance will be 1568-1595.
COLPAL- Flag & Pole Pattern
If breaking the trendline, we may see the level of Resistance around 1510-1540
On Downside Support around 1450-1434 in short term.
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Updated on : 05-NOV-2020 6.00pm
Disclaimer: Only for learning purposes.
As seen from the tend, the major trend is on the upside and 0.618 retracement level was tested once. The top should now move to target of 1460 with a SL of 1360.
Colagate Palmolive has broken below from a descending triangle Pattern on 15 mins time frame.
Initiate Sell.
Target 1 : 1370
Target 2 : 1360
Stop Loss : 1410
