Time For a Delicious Snack From the World
- Posted by Greg Harmon
- on April 23rd, 2014
According to Kraft Foods, the derivation of the name of their snack food spin out, Mondelez International, $MDLZ, comes from the Latin Monde meaning world and delez meaning delicious. Others have searched and found a more vulgar meaning when pronounced in Russian but whatever. What is important is that it is time to embrace the company. Not necessarily for their process and products but for their stock’s price action. Take a look.
The price action is exhibiting a very simple Ascending triangle pattern with price tightening against resistance at 35. The pattern projects to 36.70, a new all-time high, on a break above. The RSI and MACD also support a break higher.
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Gregory W. Harmon CMT, CFA, has traded since 1986 and held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)