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Downtrend Broken Resist.Archive
- 4/5/2024 -
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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 dropped -2.17 points, or -2.41%, and closed at 87.88 on Friday, April 5, 2024. Weekly volume was -23% below average.
 Long-term trend: [See CL long-term trend chart]
A long-term downtrend had started on November 20, 2020 at 86.41 and reached 67.62 on October 6, 2023. CL lost 18.79 points, or 21.75%, in 150 weeks. The price is now at the 107.82% retracement level.
 Medium-term trend: [See CL medium-term trend chart]
A medium-term uptrend had started on October 6, 2023 at 67.62 and reached 90.37 on March 28, 2024. CL gained -22.75 points, or -33.64%, in 24 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (88.44) 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 medium-term trend.
 Weekly Technical Indicators: [See CL weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range or strongly overbought weekly Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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 above its signal line since November 3, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. 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 March 28, 2024 at 90.37 and reached 87.15 on April 5, 2024. CL lost 3.22 points, or 3.56%, in 8 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See CL daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal.
The daily MACD line is below its signal line since March 15, 2024. This is an indication that the short-term trend is down.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (2.91%) is close to one year low (2.65%). It is 54.22% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy 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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