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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 $52.65 and $52.67 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.

In the past 52 weeks, Mondelez Inter-A share prices have been bracketed by a low of $37.42 and a high of $52.94 and are now at $52.67, 41% above that low price. The 200-day and 50-day moving averages have moved 0.41% higher and 0.78% higher over the past week, respectively.

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.

Based on a current price of $52.67, Mondelez Inter-A is currently 7.7% above its average consensus analyst price target of $48.63. Mondelez Inter-A shares have support at the 50-day moving average (MA) of $49.79 and additional support at the 200-day MA of $44.99.

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