On 1st December 2008 we looked at Colgate Palmolive and decided that although it looked ready to breakout of a series of resistances we would be better off waiting for a small dip. This has materialized. The weekly charts are still not encouraging of a big exposure in this stock. But the building blocks of a good sized move is being put in place gradually. So those who like this stock for the medium term should be ready to jump on board the bull train when the breakout happens. This is yet another example of a trading idea using elliot wave analysis.
