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- 1 MDLZ stock price surged 0.21% in the last Intraday session and closed at $65.69.
- 2 Mondelez stock price recovered over 7.5% in the last eight intraday sessions.
- 3 Mondelez International Inc. is yet to announce quarterly results on Wednesday, 1st November.
Mondelez stock price surged 0.21% on Wednesday and continued to recover from the recent decline. The MDLZ stock price has recovered more than 7.5% in the past week. The recent decline had turned the short-term outlook from neutral to bearish.
Moreover, the stock price registered a sharp fall after the dividends. The stock price slumped over 11% in a very short span. The price fell from $69.20 to a low of $61.12. The price trend analysis shows that the stock price has been in a continuous decline in the current quarter.
The MDLZ stock price reached a high of $76.7 and it could not surpass it for the whole quarter. The price kept declining continuously forming lower highs. The breakdown below the key EMAs added momentum to the decline and the price fell sharply thereafter.
MDLZ stock option-chain analysis states that the current implied volatility in the market is 25.70% with an increment of 1.75% in the last trading session. The at-the-money strike has an OI of 348 on the PUT side and 440 on the CALL side indicating the dominance of sellers at the CMP.
MDLZ Stock Price Starts Recovering Ahead of the Results
However, the price bounced back from lower support levels and is currently recovering from the decline. The Mondelez stock price has recovered over 50% and is headed higher. The recovery in the price is turning the pre-earnings sentiments positive. The positive pre-earnings sentiments may turn the trend positive after the earnings.
The company is yet to announce the quarterly results on Wednesday, 1st November. After this, the stock price may see a shift in trend. The Wall Street analysts are hoping for growth compared to the previous quarter. The analysts are estimating the revenues at $8.823 Billion and the estimated earnings at $0.785 Billion.
Technical Indicators Turned Bearish After Breakdown
The overall technical opinion rating including RSI and MACD signals a 72% “sell” with an average short-term outlook on maintaining the current direction.
Conclusion
Mondelez stock price rose 0.21% on Wednesday and recovered from a sharp fall after the dividends. The price gained 7.5% in a week. The price was in a downtrend in the current quarter and made lower highs. The price broke the key EMAs and dropped 11% from $69.20 to $61.12.
Recently, the price bounced back from the support and is heading higher. The earnings are due on Wednesday, 1st November, and may change the trend. The analysts expect higher revenues and earnings than the previous quarter.
Technical Levels
- Support levels: $64.04 and $61.04
- Resistance levels: $66.94 and $68.88
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
