Stock Technical indicators to notice in COLGATE-PALMOLIVE (CL.SW)
1- Last bearish trend was from 89.00 $ (7/26/2010) to 74.75 $ (9/9/2010) a 14.25 $ move 2- The current bullish trend started from 74.75 $ at 9/9/2010 and is currently trading at 74.80 $.
4- CL.SW current resistance level is at 78.11 which is the 23.60 % fibonacci retracement of the last 14.25 $ move.
5- According to ADX Indicator, the trend is currently strong bearish,which is becoming weaker.furthermore, the ADX indicator location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
COLGATE-PALMOLIVE (CL.SW) Short term stock chart patterns for internet stock trading :
6- The Stock traded in a bearish stock channel identifed by support at 74.750 and 82.600,resistance between 89.000 and 91.300, the stock channel is currently supported from below by 73.442 and resisted from above by 79.417.
COLGATE-PALMOLIVE (CL.SW) Mid term stock chart patterns for internet stock trading :
7- The Stock formed a 10.300 $ height triangle which was broken down at 82.150, target of the pattern is 71.850.
COLGATE-PALMOLIVE (CL.SW) Long term stock chart patterns for internet stock trading :
8- The Stock was resisted by a resistance line, identified by two points: 91.300 and 94.000, and is currently resisting at 89.556.
Stock Trading Conclusion:
COLGATE-PALMOLIVE (CL.SW) was trading in a strong bearish wave, which is becoming weaker .
Technical indicators and stock chart patterns show highly volatile movements favoriting bearish direction,
recommend hedging long positions or entering short position or bearish spread options strategy in online trading , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles in online trading. .
Stock Resistance Levels : 78.11, 80.19, 81.88, 83.56, 83.84, 89.00, 89.56, 92.88, 97.81.
Stock Support levels : 74.79, 74.78, 74.78, 74.77, 74.75,.
