• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Colgate-Palmoliv (NYSE:CL)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Colgate-Palmoliv (NYSE:CL) based on the price action in the company's shares. Yesterday's price range of $69.11 and $70.12 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Colgate-Palmoliv may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition.

Colgate-Palmoliv has overhead space with shares priced $69.85, or 2.9% below the average consensus analyst price target of $71.95. The stock should find resistance at its 50-day moving average (MA) of $72.61, as well as support at its 200-day MA of $67.05.

Over the past year, Colgate-Palmoliv has traded in a range of $57.41 to $76.41 and closed yesterday at $69.85, 22% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.2%.

SmarTrend is monitoring the recent change of momentum in Colgate-Palmoliv. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Colgate-Palmoliv in search of a potential trend change.

Keywords: bullish am inside day candle colgate-palmoliv

Ticker(s): CL