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

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Colgate-Palmolive (NYSE:CL) based on the price action in the company's shares. Today's price range of $70.06 and $70.31 is within yesterday'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-Palmolive 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 (NYSE:CL) is currently priced 0.8% above its average consensus analyst price target of $69.69. The stock should find initial support at its 50-day moving average (MA) of $69.74 and further support at its 200-day MA of $66.65.

In the past 52 weeks, shares of Colgate-Palmolive have traded between a low of $50.84 and a high of $75.38 and are now at $70.25, which is 38% above that low price. The 200-day and 50-day moving averages have moved 0.13% higher and 0.55% higher over the past week, respectively.

Colgate-Palmolive Company is a consumer products company that markets its products throughout the world. The Company's products include toothpaste, toothbrushes, shampoos, deodorants, bar and liquid soaps, dishwashing liquid, and laundry products, as well as pet nutrition products for cats and dogs.

SmarTrend is tracking the current trend status for Colgate-Palmolive and will alert subscribers who have CL in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle Colgate-Palmolive

Ticker(s): CL