Swing Trade Idea (MDLZ) – July 22, 2022
Our bearish trade for Friday, July 22nd is Mondelez International Inc.(MDLZ). MDLZ is part of the Consumer Staples sector, which has performed at 0.03% over the last week, as the sector has reached an area of resistance at a long-term key level.
MDLZ recently failed to break above a key resistance level at $62, as it is entering an over-bought condition. This provides a good risk/reward bearish entry.
As a close, if MDLZ were to trade below $62 for multiple days, this would invalidate our analysis and focus cutting losses on the trade. We also consider cutting losses on this options trade if the value of the vertical spread moves below $0.75.
