Colgate Palmolive NSE:COLPAL has lost 3.5% on NSE today with close to 3 times its average volumes. As per Gann Square Sell COLPAL below 1040 with SL of 1048.15, Target1: 1032.25, Target2:1024.30 Target3:1016.35
stock looks good for short term ...
not recommendation ..but expressed wat i feel the stock may go!!!!..
consult ur financial advicer before any decision
The Dual Breakouts are one from Triangle & next in terms of channel on higher timeframe.
i) You can trial stops & ride more upside if Colpal gets bullish
ii) On larger Timeframe it will be channel, so channel breakout possibility also there
If all goes well, we are in for treat with this colpal breakout.
The stock has formed a nice Head & Shoulder pattern after uptrend. We can expect the price to reverse now and take advantage of the pattern by shorting the stock. The pattern can drag the prices to 920 - 940.
Outlook :
After posting a 52-week high of 1049, on 04th May 2017, stock witnessed profit booking in the last trading session, resulting into a “Bearish Engulfing” candlestick pattern, erasing all previous day’s gains. This pattern is formed generally at the end of an uptrend, or near a potential resistance and is a reliable reversal pattern
Moreover, we also...
