Today we will speak about Mondelez International.
Let´s see the conclusions we can make on the chart:
a) The price is inside an ascending channel
b) Currently, the price is close to a key support/resistance level which makes convergences with the ascending channel
c) That's a key level we want to observe contact. That would mean for us that the current Flag Pattern is perfect
d) If that happens, we want to observe a bounce. The green horizontal line represents our activation level, where we think it's a confirmation of the bullish movement. The main target we will use is the 2nd fibo extension level which is the same as the higher trendline of the expanding channel.
e) the First level of the fibo extension in our experience is a good place to move the stop to the entry-level if reached. (risk-free situation)
f) The risk we will take on this setup is 1% of our trading account on the stop loss area.
g) This movement can take between 150 - 200 days.
Let´s see the conclusions we can make on the chart:
a) The price is inside an ascending channel
b) Currently, the price is close to a key support/resistance level which makes convergences with the ascending channel
c) That's a key level we want to observe contact. That would mean for us that the current Flag Pattern is perfect
d) If that happens, we want to observe a bounce. The green horizontal line represents our activation level, where we think it's a confirmation of the bullish movement. The main target we will use is the 2nd fibo extension level which is the same as the higher trendline of the expanding channel.
e) the First level of the fibo extension in our experience is a good place to move the stop to the entry-level if reached. (risk-free situation)
f) The risk we will take on this setup is 1% of our trading account on the stop loss area.
g) This movement can take between 150 - 200 days.