Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Colgate stock price stuck within a narrow range consolidation.</a> </li> 
 <li> <span>2</span> <a>CL stock price drops below the 50 day and 200 day EMAs.</a> </li> 
 <li> <span>3</span> <a>Colgate Palmolive stock price struggles to defend the $72.00 support.</a> </li> 
</ul> 
<p>Colgate Palmolive (NYSE: CL) stock price slid down by 1.39% in the current month. It seems to be spending time within a narrow range consolidation zone for base formation.&nbsp;</p> 
<p>Colgate stock price slipped below the 200 day and 50 day EMAs. However, it did not collapse much and continued trading within the range. The 200 day EMA is sloping sideways indicating that prices lack direction, because of which further consolidation is possible.&nbsp;</p> 
<p>The CL stock price faced rejection and began correction. In mid-August, the CL stock price broke down the crucial support level of $74.00, which invited further decline.&nbsp; Previously, the stock had taken a support near the $70.00 to $72.00 range multiple times. Consequently, investors are expecting the repetition of a similar kind of pattern.&nbsp;</p> 
<p>The price behavior of the stock is quite stable so the possibility of a sharp upside or downside remains low. The Colgate stock price pattern is mildly bearish but the price is near the demand zone so the risk of a downside is low.&nbsp;<a href="https://www.thecoinrepublic.com/2023/07/28/colgate-palmolive-cl-stock-expectations-from-q2-earnings/" target="_blank" rel="noreferrer noopener">Colgate Palmolive</a> stock price closed the previous session at $72.45 with an intraday decline of -1.05%. The market capitalization stands at&nbsp; $59.89 Billion.</p> 
<h2 class="wp-block-heading" id="strong-will-the-cl-stock-price-be-able-to-defend-70-strong"><strong>Will the CL Stock Price Be Able to Defend $70?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="434" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-785-1024x434.png" alt="" class="wp-image-171030" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-785-1024x434.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-785-300x127.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-785-768x325.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-785-1536x651.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-785-750x318.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-785-1140x483.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-785.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   NYSE: CL daily chart by <a href="https://www.tradingview.com/x/6J90IjFC/">TradingView</a>
  </figcaption>
 </figure>
</div> 
<p>CL stock is in a short-term correction phase. It is near the crucial support and sellers are trying their best to push the prices further down.&nbsp;</p> 
<p>However, as long as the <a href="https://www.thecoinrepublic.com/2023/07/28/colgate-palmolive-cl-stock-expectations-from-q2-earnings/" target="_blank" rel="noreferrer noopener">Colgate stock </a>price sustains above $70.00, the price is expected to bounce back again. Consequently, investors must look for opportunities to accumulate CL shares at a cheaper price.&nbsp;</p> 
<p>The price will gain positive momentum when buyers are able to break through the $74.00 hurdle. On the other hand, if sellers take control and drag the prices below $70.00, then a downward move can be expected.</p> 
<h3 class="wp-block-heading" id="strong-colgate-stock-price-needs-fresh-buying-strong"><strong>Colgate Stock Price Needs Fresh Buying</strong></h3>  
<div class="tradingview-widget-container"> 
 <div id="tradingview_0e5c0"></div> 
 <div class="tradingview-widget-copyright">
  <a href="https://www.tradingview.com/" rel="noopener nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a>
 </div> 
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> 
 <script type="text/javascript">
  new TradingView.widget(
  {
  "width": 950,
  "height": 500,
  "symbol": "NYSE:CL",
  "interval": "D",
  "timezone": "Etc/UTC",
  "theme": "light",
  "style": "1",
  "locale": "en",
  "enable_publishing": true,
  "allow_symbol_change": true,
  "studies": [
    "STD;Supertrend"
  ],
  "container_id": "tradingview_0e5c0"
}
  );
  </script> 
</div>  
<p>Colgate stock price needs fresh buying for a reversal to the upside. At present, the buyers look reluctant and so the consolidation is likely to continue.&nbsp;</p> 
<p>In the past few sessions, the broader market indices showed a minor decline. Due to this, CL stock was negatively impacted. However, it will be interesting to see how prices react near the support which will decide the future direction of the stock.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>The CL stock price is down by 1.39% in September 2023. However, the price is currently near the demand zone so the risk of a&nbsp; downside is low.&nbsp;The analysis suggests that the Colgate stock price might reverse upward and repeat history once again.</p> 
<h4 class="wp-block-heading"><strong>Technical levels</strong></h4> 
<ul> 
 <li>Resistance levels: $75.00 and $78.00</li> 
 <li>Support levels: $71.00 and $68.00</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Colgate Stock: Will CL Stock Reverse Again and Repeat History?

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