Colgate-Palmolive Trading Analysis (02/10/2024)
The trend is ascending. The stock is trading in the range between 365 and 135 ЕМА. The descending wave structure is truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals a bullish divergence too.
Trading idea:
- Buy when the formation of the ascending wave structure begins, when wave A breaches the sloping channel of the downtrend truncated structure.
- Stop-loss at 101.80.
- Price targets at 106.40 and 109.00.
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