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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Colgate-Palmoliv (NYSE:CL) based on the price action in the company's shares. Today's price range of $76.00 and $76.32 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. Owners of Colgate-Palmoliv may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of Colgate-Palmoliv have traded between a low of $64.50 and a high of $76.60 and are now at $76.25, which is 18% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has risen 0.2%.

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.

Colgate-Palmoliv (NYSE:CL) defies analysts with a current price ($76.25) 5.6% above its average consensus price target of $71.95. Colgate-Palmoliv shares have support at the 200-day moving average (MA) of $70.78 and additional support at the 50-day MA of $69.51.

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

Keywords: bearish inside day candle colgate-palmoliv

Ticker(s): CL