Trade Idea for Colgate-Palmolive Company (NYSE)

Colgate-Palmolive Company (NYSE)

#CL

    The trend is upward. The stock is trading between 365 и 135 ЕМА on the М30 timeframe. The descending wave structure is truncated. The Awesome Oscillator shows a bullish divergence, while the Stochastic Oscillator signals oversold conditions.

Trading idea:

Buy upon the formation of an upward wave structure, where wave (A) breaks through the trendline of the descending truncated structure.

Stop Loss below the local low of the descending structure.

Target levels – 79.25; 80.42.