$MDLZ Mondelez Int - Breakout Coming
Monitor for a close over $59.00
Unusual (near term) bullish options activity today:
$18M of in-the-money 1/15/21 calls traded
Medium term target: $68-$70 range by late March (low beta 0.6)
Today, we have a short setup to share. Here is a full explanation
a) The price has found resistance on the All-time highs zone
b) After reaching the zone, we saw a breakout of the ascending trendline
c) Now, we have a clear corrective structure (ABC pattern), which is considered a bearish pattern
d) Our Entry Stop and Take profit are the ones you can...
I see a mirror level confirmed from both sides, however it is closing under the level i see, i chose it for my short list. It has moved up Long time without stopping, and is unable to move upper, but got power for moving down
MDLZ has a daily Gartley Pattern, and 40 figure showed great support for over a year,
it may give a potential long opportunity;
I got to wait for reversal sign in smaller time frame to get in the long position, if it breaks 40.00 before any reversal sign, this trade doesn't exist anymore.
* Educational use only.
Historically when the coppock curve reaches this level the stock moves up an average of 4.93%. While I am tracking another indicator pointing down, both can happen. My conservative call is a move around the top of the wedge/trendline (white) and then a possible drop. A well placed call could fetch around 15-20% in a matter of days.
MDLZ seems forming a declining neck head & shoulder formation. It is also running within a channel formation. Technically it looks weak & it had recent insider selling. We think it will decline to 32 area shortly.
Entry Target Criteria- break of $40.37
Exit Target Criteria- Target 1- $36.43; Target 2- $32.23
Stop Loss Criteria- $42.23