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

10 Ara 2024

MDLZ announced it would like to buy HSY 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!

12 Ara 2024

İşlem aktif

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