NASDAQ:MDLZ Trigger: $42.66 after a pullback. Buy Stop: above 43.37.
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Please note that this information is not a recommendation to buy or sell. It is to be used for educational purposes only.
Channel Bounce, its rebounding sharper than spy, bullish momentum is stronger
Spy may rebound. I'm using this trade as a hedge against my BAM trade.
Call Price $1.58, Strike $41. Break Even at 42.73
Delta is 0.58
Stop at $0.75
Profit Target is at $2.58
In daily, Mondelez is in cup and handle pattern ( C H on chart) , the neckline N has been broken and the pullback (PB already occured). The pullback has drawn a double bottom pattern in hourly (B1 B2) with a breakout confirming the incoming uptrend.
NASDAQ:MDLZ had a golden cross on the daily chart. Price is above the 50MA and 200MA, those provide good support. Trend line/parallel channel also gives support.
Entry strategy: wait for the next bullish candle which confirms the uptrend and cross above 42.96
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