Long

MDLZ $72.00 - Don't Miss Out on This 18%

Aggiornato

announced it would like to buy which led to a drop to $60. The sell-off came with a high volume and an oversold RSI. The buyers were able to buy the stop up to $61.44 getting it into the support zone. The sell-off did also respect the current bearish channel we're in. From this point on we could see a little bounce or the start of a new bullish phase inside this huge sideways channel.

Our first target would be the resistance at $64.22. If we bounce from this we could see another leg down which is why we should take profit here and move the stop-loss to break-even. If the stock decides to use its momentum for more we could target the area at $73.00. We exit this trade if the stock closes on the daily chart with a candle below the support zone of $60.67.

Resistance / Target Zones:

$64.22
$73.00

Support Zone:

$60.67

Let me know what you think!

Trade attivo

First target was reached yesterday. Profits should have been taken partly and SL moved to BE.

LGNDRY-Capital

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