• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Monsanto Co (NYSE:MON)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Monsanto Co (NYSE:MON) based on the price action in the company's shares. Yesterday's price range of $117.47 and $119.00 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Monsanto Co may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, Monsanto Co share prices have been bracketed by a low of $97.35 and a high of $124.20 and closed yesterday at $117.77, 21% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.4%.

Monsanto Company provides agricultural products for farmers. The Company's business segments are seeds and genomics. Monsanto produces a wide range of seeds and develops biotechnology traits that assist farmers in controlling insects and weeds, as well as provides other seed companies with genetic material and biotechnology traits for their seed brands.

Monsanto Co has overhead space with shares priced $117.77, or 7.0% below the average consensus analyst price target of $126.59. Monsanto Co shares have support at the 200-day moving average (MA) of $93.01 and additional support at the 50-day MA of $90.20.

SmarTrend is monitoring the recent change of momentum in Monsanto Co. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Monsanto Co in search of a potential trend change.

Keywords: bullish am inside day candle monsanto co

Ticker(s): MON