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 $106.10 and $106.72 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.
Potential upside of 1.4% exists for Monsanto, based on a current level of $106.33 and analysts' average consensus 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.
In the past 52 weeks, Monsanto share prices have been bracketed by a low of $81.22 and a high of $123.82 and are now at $106.33, 31% above that low price. The 200-day and 50-day moving averages have moved 0.31% lower and 0.36% higher over the past week, respectively.
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 monitoring the recent change of momentum in Monsanto. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Monsanto in search of a potential trend change.
Keywords: bullish inside day candle Monsanto