Mondelez International: Still Waiting an Elusive Upside Breakout

 | Jun 01, 2017 | 3:45 PM EDT
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mdlz

Mondelez International (MDLZ) has a bullish-looking set of charts but so far we haven't been rewarded with an upside breakout. Prices have moved up in fits and starts but a smooth uptrend and a clear breakout above $48 has been elusive.

Let's check our latest charts and indicators and see if we should continue to anticipate further gains.

In this daily bar chart, below, we can see that prices have firmed in the past two months, with MDLZ now above the rising 50-day and the rising 200-day moving average lines. The daily On-Balance-Volume (OBV) line has been both erratic and basically neutral the past several months. The Moving Average Convergence Divergence (MACD) moved above the zero line in April and it is still in a bullish mode.

In this weekly chart of MDLZ, below, we can see prices above the rising 40-week moving average line. The weekly OBV line is positive, unlike the daily line. The weekly MACD oscillator is bullish, too.

In this Point and Figure chart of MDLZ, below, we can see that prices are right on the edge. A trade at $47 and then $48 should do it. The first upside target is $54.

Bottom line: You can lead a horse...MDLZ has been led to a breakout. Now it just has to do it.

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