Possible Bullish Inside Day Candle Pattern Detected for Monsanto (NYSE:MON)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Monsanto (NYSE:MON) based on the price action in the company's shares. Today's price range of $100.67 and $101.99 is within yesterday'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 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, shares of Monsanto have traded between a low of $81.22 and a high of $123.82 and are now at $100.71, which is 24% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has slid 0.3%.
Monsanto has overhead space with shares priced $100.71, or 6.6% below the average consensus analyst price target of $107.84. Monsanto shares have support at the 200-day moving average (MA) of $93.01 and additional support at the 50-day MA of $90.20.
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 andweeds as well as provides other seed companies with genetic material and biotechnology traits for their seed brands.
SmarTrend is tracking the current trend status for Monsanto and will alert subscribers who have MON in their portfolio or watchlist when shares have changed trend direction.
Keywords: bullish inside day candle Monsanto