ShortNearing upper limits of the very clean downtrend channel on weekly and also hitting the supply zone. Good opportunity to go short with defined risk.
MONSANTO
MON -- The devil's lettuce tastes good (pt. 2)I've been watching this one a while now... I made a call that if we break the yellow / 122 level we will see almost a double up to near 230 based on some gann projections in the other idea (check it out it is linked)
Manage your risk (almost a 5:1 if you're willing to risk 20% to get near 100%)
GL HF
xoxo
sn00p
October 4 Earnings: Monsanto: Will Growth Overcome Competition?Monsanto's broad array of product offering in the Agricultural space has lead the market in recent years.
The company's Roundup Ready 2 Soybean treatment has been chosen to treat just under 50% of the US Acreage for 2018.
Monsanto's (expected) future integration with Bayer should boost guidance prospects.
However, with mounting expenses with product rollout and legal expenses with the Bayer merger, profits should be under pressure.
The company's sales growth is impressive, but with the continued Agricultural slump in the US, sales guidance should be lackluster.
I'm starting Monsanto with a $110.00 Price Target throughout 2018.
Stop positioned at $125.00 but remains flexible with the broader market.
[MON] Long on a Text Book Pennant Setup on the Daily ChartTaking Monsanto Long for a measured move of +3.74% (+$4.00/sh) to $112.50. Stop is at $106.74 for a better than 2-to-1 R:R. Volume has been strong on green, weak on red as this formation sets up to break out.
This chart may also be completing a cup and handle on the daily, making the measured move closer to +$12, taking it to a potential price of $120/sh.
BAYER (+MONSANTO) - LONGI have open position on Bayer since 1st January.
I like how it looks on the chart.
MONSANTO: CORRECTION BEFORE THE NEXT WAVE UP?MONSANTO is in the middle of a corrective structure, I'm expecting a breakout to the upside. Possible target on chart. A strong breakout of the dotted line can invalidate this setup.
Agriculture set to Boom -- Monsanto Green Cup of TeaAgriculture is lagging rest of Commodity field. However, the Ag index is starting to warm up.
Monsanto Cup Pattern
TGT 1 = 100
TGT 2 = 108.50
Agriculture set to BOOM -- Monsanto Measuring a Steep Deep CupCommodities Booming
Agriculture is lagging for now. However, green shoots are starting to percolate.
Cup Pattern
Target 1 100
Target 2 108.50
