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

By Nick Russo

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 $73.93 and $74.30 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.

In the past 52 weeks, Colgate-Palmolive share prices have been bracketed by a low of $50.84 and a high of $76.86 and are now at $74.23, 46% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.

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.

Based on a current price of $74.23, Colgate-Palmolive is currently 1.7% above its average consensus analyst price target of $72.94. Colgate-Palmolive shares have support at the 50-day moving average (MA) of $69.74 and additional support at the 200-day MA of $66.65.

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