Colgate-Palmolive Company Stock Forecast

Green day on Tuesday for Colgate-Palmolive Company
(Updated on Jun 25, 2024)

CPA.F Signals & Forecast

The Colgate-Palmolive Company stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 90.69€ and 87.35€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 9.55%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

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

Colgate-Palmolive Company finds support from accumulated volume at 91.93€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved 0.400€ between high and low, or 0.434%. For the last week the stock has had daily average volatility of 0.84%.

The Colgate-Palmolive Company stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: 89.57€ (-2.90%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 31 days ago.)

Trading Expectations (CPA.F) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Colgate-Palmolive Company to open at 92.28€, and during the day (based on 14 day Average True Range), to move between 91.26€ and 93.24€, which gives a possible trading interval of +/-0.99€ (+/-1.07%) up or down from last closing price. If Colgate-Palmolive Company takes out the full calculated possible swing range there will be an estimated 2.15% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ 91.93€, some 0.320€ (0.35%) from the current price of 92.25€, our system finds the risk reward attractive.

Is Colgate-Palmolive Company stock A Buy?

Colgate-Palmolive Company holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Colgate-Palmolive Company of Wednesday, June 26, 2024

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