Trade Idea for Colgate-Palmolive Company (NYSE)

Colgate-Palmolive Company (NYSE)

#CL

    The trend is bearish. The stock is trading within the range between the 365 EMA and 135 EMA on the M30 timeframe. The ascending wave structures are truncated. The Awesome Oscillator shows bearish divergence, while the Stochastic Oscillator signals overbought conditions.

Trading Idea:

Buy upon the formation of an ascending wave structure, where wave (A) breaks through the trend channel of the truncated descending structure.

Stop Loss placed above the local high of the ascending structure (78.50).

Target levels: 77.30; 76.10.