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
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...
Taking 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.
I have open position on Bayer since 1st January. I like how it looks on the chart.
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 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
Commodities Booming Agriculture is lagging for now. However, green shoots are starting to percolate. Cup Pattern Target 1 100 Target 2 108.50