Its been observed that COLPAL is facing resistance on weekly uptrend channel which got breached in between and then come back. We can see selling pressure in coming days.
TP: 930
SL: 1070 On closing basis.
Note: Charts are published for educational/learning purpose and used for trading will be self decision.
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.
In Weekly Chart (Shown here) Point B = 0.788 XA .
Point C = 0.762 AB & so on....
In Daily Chart same Happened.
Can See By Changing the Interval to 1D.
Also Many of the Lead indicators & Oscillators Shows -VE Divergence.
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...
colpal chart has formed scallops ascending and inverted, average rise for this pattern is 43%
Also since last few days higher delivery percentage of quantity, also stock is near its 52week high.
on monthly charts it has been observed that stock is currently trading at very imp support line (trendline from 2009 to 2017 feb), as its assumed any extremly bad news only can break this faboulous trend for colpal. strategy will be to accumulate this stock from 880 - 910 range for a target of 1000, sl-875.
once we goes past 1000 we will see levels of 1100 and...
The information is for educational purposes only and does not constitute an offer to sell nor a solicitation of an offer to buy any security which may be referenced by me. The information provided through my charts is for personal, non-commercial, educational use and display.
as we can see the bullish harami pattern there and the price above 8 ema thought the stochastic in not overbought in oversold area but this could be the best trade setup
Its been observed on daily chart that Colgate Palmolive is getting strong support at 880-885 levels.
In recent past, it touched this area three times and bounce back.
For coming days, this can be watch.
Strategy: 1. Buy above 902 levels with SL of 880 for TP of 925. Risk Reward 1:1, OR
2. SELL Below 880 for 860 levels with SL of 900.
*Charts are published...
Colpal Trading near Monthly TL support is expected to have completed WX/AB waves of correction as Elliot Wave.
Now 1033 high is key for longer term bulls. any close below the monthly TL support which is near a small demand zone too, should trigger Monthly TL-2 target and Weekly TL tgt.
SL above 1033 longer term
shorterm players should wait for a retracement r...
