COLPAL will it breakdown or sustain ?
Colgate-Palmolive (India) Ltd. is an interesting bearish chart with following
1. Price Consolidation Breakdown of 12 weeks consolidation
2. Price trading below major moving averages
3. Strong anchor red candle engulfing previous 12 candles
4. Narrowing Bollinger Bands with price walking on lower band on daily charts
Lets See How it Evolves
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to take some position with my own Risk Reward matrix.
1. Price Consolidation Breakdown of 12 weeks consolidation
2. Price trading below major moving averages
3. Strong anchor red candle engulfing previous 12 candles
4. Narrowing Bollinger Bands with price walking on lower band on daily charts
Lets See How it Evolves
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to take some position with my own Risk Reward matrix.
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