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Possible Bearish Inside Day Candle Pattern Detected for Mondelez Inter-A (NASDAQ:MDLZ)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Mondelez Inter-A (NASDAQ:MDLZ) based on the price action in the company's shares. Today's price range of $54.88 and $54.99 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Mondelez Inter-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Based on a current price of $54.88, Mondelez Inter-A is currently 11.4% above its average consensus analyst price target of $48.63. The stock should find initial support at its 50-day moving average (MA) of $54.64 and further support at its 200-day MA of $49.76.

Mondelez Inter-A share prices have moved between a 52-week high of $56.87 and a 52-week low of $37.42 and are now trading 47% above that low price at $54.88 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.6%.

Mondelez International, Inc., through its subsidiaries, manufactures and markets snack food and beverage products worldwide. It offers biscuits, including cookies, crackers, and salted snacks; chocolates; and gums and candies, as well as various cheese and grocery, and powdered beverage products.

SmarTrend is tracking the current trend status for Mondelez Inter-A and will alert subscribers who have MDLZ in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle mondelez inter-a

Ticker(s): MDLZ