Trading Idea for Colgate-Palmolive Company (NYSE)
Colgate-Palmolive Company (NYSE)
#CL
The trend is downward. The ascending wave structures are truncated. The Awesome Oscillator shows a bearish divergence, while the Stochastic Oscillator indicates overbought conditions.
Trading idea:
Sell upon the formation of a descending wave structure, where wave (A) breaks through 79.16 (pivot of wave C).
Stop Loss: above the local high of the ascending truncated structure.
Target levels: 78.12; 76.00
