Colgate-Palmolive Company Stock Forecast

Colgate-Palmolive Company stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)

CL Signals & Forecast

The Colgate-Palmolive Company stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $97.54. On a fall, the stock will find some support from the long-term average at approximately $94.83. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -2.90%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Colgate-Palmolive Company stock

Colgate-Palmolive Company finds support from accumulated volume at $94.08 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.23 (1.29%) between high and low. For the last week, the stock has had daily average volatility of 1.37%.

Our recommended stop-loss: $92.36 (-3.92%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 22 days ago.)

Trading Expectations (CL) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Colgate-Palmolive Company to open at $95.80, and during the day (based on 14 day Average True Range), to move between $94.87 and $97.37, which gives a possible trading interval of +/-$1.25 (+/-1.30%) up or down from last closing price. If Colgate-Palmolive Company takes out the full calculated possible swing range there will be an estimated 2.60% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $97.04 (0.96%) than the support at $94.08 (2.12%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Colgate-Palmolive Company stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Colgate-Palmolive Company stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.746 Buy Candidate Upgraded

Predicted Opening Price for Colgate-Palmolive Company of Wednesday, July 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.