There are some stocks made for just accumulation. You just buy them whenever they are down. A very simple strategy to get rich in long term without hassle. Colgate Palmolive is one of them.
Day trading is something not advisable for Colgate Palmolive stock because it will leave you clueless with big whipsaw. Anything below weekly time frame and picture is muddied.
A fantastic run started from the beginning of the 2014 till mid 2015 almost doubled the stock from 600 to 1100. On a monthly or weekly chart, 800 is the big support level and sharp down move was rightfully arrested around this figure. Stock has bounced back from 800 to 940, So now what? Well as we mentioned, this is the kind of stock you can accumulate from any level with discipline and proper risk management. For those who want to get long this stock afresh, 900 can provide excellent support during pullbacks. Of course you can buy it right away and then spread the entry across the band too if you know the proper technique. Down trend resistance line descending from the top meets somewhere near this level - 940 / 950 - so little pullback is expected.
No matter what, one must have such stocks in long term portfolio. If you haven't done it so far then 900 / 880 can give you a chance to enter.
Day trading is something not advisable for Colgate Palmolive stock because it will leave you clueless with big whipsaw. Anything below weekly time frame and picture is muddied.
A fantastic run started from the beginning of the 2014 till mid 2015 almost doubled the stock from 600 to 1100. On a monthly or weekly chart, 800 is the big support level and sharp down move was rightfully arrested around this figure. Stock has bounced back from 800 to 940, So now what? Well as we mentioned, this is the kind of stock you can accumulate from any level with discipline and proper risk management. For those who want to get long this stock afresh, 900 can provide excellent support during pullbacks. Of course you can buy it right away and then spread the entry across the band too if you know the proper technique. Down trend resistance line descending from the top meets somewhere near this level - 940 / 950 - so little pullback is expected.
No matter what, one must have such stocks in long term portfolio. If you haven't done it so far then 900 / 880 can give you a chance to enter.
