Consumer products giant Colgate-Palmolive (CL) is scheduled to report its latest quarterly numbers on Friday and the stock price has been weak recently. Let's check on our regular set of four charts to see how investors have been approaching shares.
In this daily bar chart of CL, below, I can see a wide downward sloping channel playing out over the past year. Prices have made lower highs and two distinct lower lows. CL currently trades below the 50-day and the 200-day moving average lines. The trading volume does not show any trend.
The On-Balance-Volume (OBV) line shows a shallow rise from October. The Moving Average Convergence Divergence (MACD) oscillator rolled over in December and has recently moved below the zero line for an outright sell signal.
In this weekly Japanese candlestick chart of CL, below, I can see that CL has been in a downward sloping channel for two years and not just one year. Prices trade below the declining 40-week moving average line.
The weekly OBV line shows a decline from early 2021. The weekly MACD oscillator moved above the zero line but has narrowed sharply and could soon cross to the downside.
In this daily Point and Figure chart of CL, below, I can see a downside price target in the $72 area.
In this second Point and Figure chart of CL, below, I used weekly price data. Here the X's and O's yield a price target of $69.
Bottom line strategy: I have no special knowledge of what CL executives will tell shareholders on Friday but the charts are not encouraging at this point in time.
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