COLG trade ideas
Pitchfork in ColgateHi Folks,
Here comes another example of market geometry: today we are featuring Colgate!
As you can price bounces off the resistance of the upper pitchfork trendline, and briefly finds support from the medium line.
Interested in seeing more examples of pitchforks? Stay tuned for more!
CL LONG PlayCL looks to have found support and based out with consolidation on support.
Risking about 2% downside with lots of upside potential on this trade.
MACD curling up about to cross for bullish confirmation.
Profit taking pink lines above. Ideally would only have runners left for the full retrace to its previous levels around $86.
OPTIONS: 3/19 $80 Calls or $82.5 Calls.
NOT A FINANCIAL ADVISOR JUST A SIMPLE TRADE IDEA USING SUPPORT LEVELS.
Colgate pullback a good opportunity to investShares of Colgate Palmolive (NYSE:CL) have pulled back strongly over the last month. Both MACD and RSI indicators reveal that the stock is reaching oversold levels. I have been watching the stock for a few days now and can forsee some buying opportunities in the coming days.
Yesterday the stock pulled down even closer to longer term support level. I would be looking to buy after a bounce off the 200MA with an initial target price around $87. This is one I would be looking to hold on to for the medium to longer term.
CL - Bullish Rectangle Blue Sky Breakout PlayCL has been consolidating for around one month and forming a bullish rectangle. When consolidation gets tight and the price keeps knocking at ATH, we can see a nice blow off top move. OI on 1/15/21 85c is at 5,000 which is quite high. You can either get in early and wait for the break out, or set an alert at 84.62 and buy weeklies on the breakout (weeklies don't have as high OI/Volume)
$CL Swing Trade Idea$CL is approaching the daily 20ema line (yellow).
This also happens to be where the volume accumulation is highest before there is a gap to the downside.
If $CL can hold about $84.25 at close, it will look nice for a swing to the upside.
Vol profile POC is to the upside as well. Good value area to swing long here at bottom of value area.
$CL posted better than expected earnings$CL posted positive earnings but still the PEAD projected a slight bearish outlook for the stock with price currently trading around the upper boundary of the PEAD cone.
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$CL daily #stockchart with #bullish #breakout$CL is breaking out of a month long ascending triangle pattern on volume bigger than the 20MA AvgVol
Notice RSI is breaking out also above 60 and MACD is about to go positive. Both with plenty of room before overbought condition.
Company reports earnings Friday, 31st on July BMO, so it could be a classic ramp up before ER
Measured target from the technical breakout is around 79.59
Good luck,
TA
PAY of COLGATE-PALMOLIVE COHey traders, **DISCLAIMER** content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. COLGATE-PAMOLIVE CO is in an important moment, it is likely that breaks its stabilization zone with force.
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