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

By Shiri Gupta

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 $45.94 and $45.94 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.

Over the past year, Mondelez Inter-A has traded in a range of $37.42 to $46.54 and is now at $45.94, 23% above that low. The 200-day and 50-day moving averages have moved 0.10% higher and 0.02% higher over the past week, respectively.

Potential upside of 5.9% exists for Mondelez Inter-A, based on a current level of $45.94 and analysts' average consensus price target of $48.63. Mondelez Inter-A shares have support at the 50-day moving average (MA) of $42.82 and additional support at the 200-day MA of $41.90.

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.

SmarTrend recommended that subscribers consider buying shares of Mondelez Inter-A on January 8th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $41.69. Since that recommendation, shares of Mondelez Inter-A have risen 11.0%. We continue to monitor MDLZ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle mondelez inter-a

Ticker(s): MDLZ