In today’s stock of the day, let’s focus on Mondelez, which is currently trading in a sideways range that has persisted since the end of February. Although the recent price action may seem uneventful at first glance, a closer look reveals that we could be approaching a decisive breakout point that will provide the next meaningful trading signal.
From the technical perspective, Mondelez is confined within a clear trading channel. The horizontal support, marked with orange color at $63.40, has been respected multiple times, preventing deeper declines. On the upside, the price is capped by a blue dynamic downtrend line, which forms a tightening range as the pattern develops. This creates a scenario resembling a descending triangle, though slightly irregular in its shape, as price swings grow more narrow.
Most recently, we’ve seen the price bounce off the lower boundary of this consolidation zone, suggesting that buyers are stepping in to defend this support level. With this reaction, the price appears to be heading back toward the upper boundary of the formation. That makes the current setup particularly interesting, as the breakout—whichever direction it may take—should define the next strong trend for Mondelez.
For now, the outlook remains neutral, and the best strategy is patience. A breakout above the blue resistance line would be a signal to go long, with an expectation of further upside. Conversely, a breakdown below the orange horizontal support would be a signal to sell, potentially opening the door to a more extended bearish move.