In this daily bar chart of MDLZ, below, we can see a good rally from the late December nadir. Recently MDLZ broke below the rising 50-day moving average line and then it bounced back above that indicator Thursday. The 200-day moving average line is rising and untested this year.
The On-Balance-Volume (OBV) line has risen with the price action and now looks like it has made a new high for the move up perhaps foreshadowing a new price high. The trend following Moving Average Convergence Divergence (MACD) oscillator is ready to turn to the upside from just below the zero line.
This will probably result in a cover shorts buy signal followed by an outright go-long signal.
In this weekly bar chart of MDLZ, below, we can see that prices broke out this year on the upside from a long consolidation pattern. Prices are above the rising 40-week moving average line. The weekly OBV line moved up to a new high in April through June, but it has softened slightly in July.
The weekly MACD oscillator has crossed to the downside generating a take-profits sell signal. This is a sell in an uptrend.
In this Point and Figure chart of MDLZ, below, we can see a nearby downside price target of $49.85 being projected. A dip towards this price objective could be a good buying opportunity.
Bottom line strategy: Readers know I prefer to buy strength, but a dip towards $50 on MDLZ may be a good move.