Unilever shares surged after Kraft Heinz announced plans to purchase the company. Talks have subsequently fallen through. Expect shares to come back to earth again on Tuesday at market open. There's strong potential for an "impulse" play here, as the stock will likely open low and continue lower.
- Enter immediately at market open on Tuesday, Feb 21st.
AB = CD move shows the sign of Zorro ..."Z".. and took 5 years to complete.
Now price seems to be trapped above the ML and the upper band of the green channel.
Price conforms to structure drawn way back at the A point in beginning of 2009.