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Downtrend ExhaustionArchive
- 11/8/2024 -
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Colgate-Palmolive (CL) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Colgate-Palmolive (CL). During the week, the CL gave back -0.76 points, or -0.81%, and closed at 92.57 on Friday, November 8, 2024. On Friday CL has reached 91.14 - the lowest level since May 31, 2024. Weekly volume was 24% above average.
CL is a member of Consumer Staples Sector. Consumer Staples is the most oversold sector. CL is a member of Personal Products Industry. Personal Products is the third most oversold industry. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See CL long-term trend chart]
A long-term uptrend had started on October 6, 2023 at 67.62 and reached 109.30 on September 5, 2024. CL gained -41.68 points, or -61.64%, in 47 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (110.75) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. CL may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a long-term trend.
 Medium-term trend: [See CL medium-term trend chart]
A medium-term downtrend had started on September 5, 2024 at 109.30 and reached 90.04 on November 6, 2024. CL lost 19.26 points, or 17.62%, in 8 weeks. The price is now at the 13.14% retracement level.
 Weekly Technical Indicators: [See CL weekly technical indicators chart]
Weekly Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Lane's Stochastic or strongly oversold weekly Williams' Percentage Range. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since September 27, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. Use the following link to access a MACD help.
 Short-term trend: [See CL short-term trend chart]
A short-term downtrend had started on October 15, 2024 at 102.61 and reached 90.04 on November 6, 2024. CL lost 12.57 points, or 12.25%, in 22 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 88.47 and resistance is at 95.85. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.
Daily Technical Indicators: [See CL daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal.
The daily MACD line is below its signal line since October 18, 2024. This is an indication that the short-term trend is down.
The distance between the Bollinger Bands (15.56%) is close to one year high (12.20%). It is 140.88% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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