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
TP: 44.85
SL: 41.50
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.
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.
Trade Criteria
Entry Target Criteria- break of $40.37
Exit Target Criteria- Target 1- $36.43; Target 2- $32.23
Stop Loss Criteria- $42.23
Indicator...
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: [MDLZ] phase 1 -> phase 4?](https://s3.tradingview.com/9/9hq50osh_mid.png "[MDLZ] phase 1 -> phase 4?")
