COLGATE PALMOLIVE CO. - CL
Monthly chart shows impulsive up from $43 low to the $74.50 area high. Last move up was made with divergence in cci. Possible 5 waves up into the current high also.
Weekly chart shows large bearish engulfing candle pattern into all time high of $74.52.
Daily chart shows sellers gapping down the price at the open of Friday's trading day. However, sellers were met with early buyers who tried to take price back up - only to be overcome by sellers once again, with the stock closing on its lows for the trading session. First downside target is the prior s/r of $70.
Saturday, October 20, 2007
CL Analysis for 10.20.2007
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