MOS trade ideas
Mosaic Co.Soft commodities breaking out recently pushing agriculture stocks like Potash (POT) and Mosaic to new Hi's. Buy a pullback to demand zone highlighted in yellow. Zone sits at former resistance level which should now act as support. Could also be looked at as a cup & handle pattern as well. Trade offers good R/R.
Entry: 30.43
Stop Loss: 29.89
Target 1: 33.5
Mosaic showing early signs of base completionAs an extension to our recent post on the US Materials Sector, we have identified 8 US stocks which we think could strengthen in the coming months. Of particular interest is Mosaic (MOS):
Mosaic is showing signs of base completion, as prices pressure the USD31.10 range highs. Improving studies anticipate a break towards the USD34.15 retracement, with scope for extension to the USD36.95 high of November 2015. Congestion around USD25.00 should underpin any immediate setbacks as investors adopt a buy-into-weakness strategy.