Go to the Globe and Mail homepage

Jump to main navigationJump to main content

(Paul Sakuma/AP)
(Paul Sakuma/AP)

Technical Analysis

Bullish on Colgate-Palmolive Add to ...

Colgate-Palmolive Co. built an extremely large base mostly between $55 and $70 for almost a full year (dashed lines). In early June (A), the stock rallied to the top of the trading range to confirm the breakout and then continued to rise to a high of $87 (B). The stock pulled back toward its 40-week moving average (40wMA) in early 2010 (C) and now appears ready to resume the up-trend (D). Only a sustained decline below the 40wMA (currently at about $80) would reverse the current long-term up-side potential.

More Related to this Story

Point & Figure measurements provide targets of $99 and $109. The large area of accumulation (see dashed lines) supports significantly higher Point & Figure targets.



Ron Meisels is a contributor to the www.NA-marketletter.com web site. Monica Rizk is the senior Technical Analyst for Phases & Cycles Inc. They may hold shares in companies profiled. Please see the site for a glossary.

Source: WWW.DECISIONPLUS.CA

Follow us on Twitter: @GlobeInvestor

 
Live Discussion of CL on StockTwits
More Discussion on CL-N

Topics:

In the know

Most popular video »

Highlights

More from The Globe and Mail

Most Popular Stories