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

By Amy Schwartz

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 $40.36 and $40.80 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.

There is potential upside of 20.3% for shares of Mondelez Inter-A based on a current price of $40.42 and an average consensus analyst price target of $48.63. Mondelez Inter-A shares should encounter resistance at the 200-day moving average (MA) of $41.77 and support at the 50-day MA of $39.94.

Mondelez International Inc. is a food and beverage company. The Company manufactures and markets packaged food products, including snacks, beverages, cheese, convenient meals and various packaged grocery products. Mondelez International sells its products throughout the world.

Over the past year, Mondelez Inter-A has traded in a range of $37.42 to $47.23 and is now at $40.42, 8% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.3%.

SmarTrend is monitoring the recent change of momentum in Mondelez Inter-A. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Mondelez Inter-A in search of a potential trend change.

Keywords: bearish inside day candle mondelez inter-a

Ticker(s): MDLZ