CADBURY Plc topped gainers’ chart for the week ended March 9th 2012 with 16.68%. The stock experienced a bullish week with very strong positive sentiments and uptrend movement.
BUT the trend likely to reverse in the coming period, the huge profit taking and sell tendency was observed during last trading session. The volume closed bearish with significant surge above its 15days moving average while significant distribution was observed during the last session.
The stock is very close to overbought region. The moving average closed indecisive in short term and bearish in long term, though, money inflow index maintained northward trend.
Also, the candlestick pattern reveals an emerging bearish sentiment with growing sell pressure. This is likely to continue in the coming period.
Technical conclusion on sentiment: There is high tendency of emerging bearish sentiments towards the stock. The last sell tendency was significant as profit taking commenced while the downtrend is very possible anytime soon. The chart below shows MACD, candlestick, RSI and volume.
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