Colgate-Palmolive (CL) is due to report its latest quarterly figures on Friday. Unfortunately, the stock has been weakening ahead of this report. Let's review the charts and indicators.
In the daily bar chart of CL, below, we can see the past 12 months of price activity. Prices have made a recovery from their late March nadir but CL stalled out and went nowhere in November and December. Prices began a decline in early January, first closing below the cresting 50-day moving average line and more recently approaching the rising 200-day moving average line.
The trading volume has been increasing since late December but unfortunately the On-Balance-Volume (OBV) line has continued to weaken telling us that sellers of CL have been more aggressive. The Moving Average Convergence Divergence (MACD) oscillator fell below the zero line this month for an outright sell signal.