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Colgate-Palmolive Co. (Friday’s close US$81.88) rallied from US$36.56 in August, 2010 (not shown), to US$75.38 in August, 2016 (A), above its rising 40-week Moving Average (40wMA). It then settled in a wide horizontal trading range mostly between US$60 and US$77 for about five years (dashed lines). The recent rise above the top of this range signalled a major breakout and the start of a new up-trend (B).

Behaviour indicators including the 40wMA and the rising trend-line (solid line) confirm the bullish status. There is good support near ±US$80; only a sustained decline below ±US$77 would be negative.

Point & Figure measurements provide targets of US$98 and US$105. The large trading range (dashed lines) supports significantly higher targets.

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Monica Rizk is the senior Technical Analyst and Ron Meisels is the president of Phases & Cycles Inc. (www.phases-cycles.com). And he tweets at @Ronsbriefs. They may hold shares in companies profiled.

Chart source: www.decisionplus.com

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 07/11/24 6:30pm EST.

SymbolName% changeLast
CL-N
Colgate-Palmolive Company
+0.61%90.77

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