City Trades: Cadbury looks no treat.
Investors Chronicle - magazine and web content, June, 2009
Byline: Steven Mayne
TRADING IDEA: Short-selling the confectioner's shares could produce sweet profits
Cadbury's recent sugar-rush upwards since the end of April now seems to have run out of energy, says Steven Mayne at Falcon Securities.
The price has run into resistance from its 200-day moving average, with sell-signals appearing on the stochastic and MACD oscillators. Also, the relative strength index is trending negatively. All in all, it seems likely that the next move for the confectioner's share price is down. Traders should target a move back towards the 500p mark in the short- to medium-term and look to limit their risk by placing a stop-loss around 560p.
IC Trades are written by Investors Chronicle writers. City...
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