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Possible Bullish Inside Day Candle Pattern Detected for Mosaic (NYSE:MOS)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Mosaic (NYSE:MOS) based on the price action in the company's shares. Yesterday's price range of $24.84 and $25.58 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 Mosaic may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

The Mosaic Company produces and distributes crop nutrients to the agricultural communities located in North America and other countries. The Company's principal products include concentrated phosphates, potash, and nitrogen.

Mosaic share prices have moved between a 52-week high of $47.68 and a 52-week low of $22.02 and closed yesterday at 15% above that low price at $25.26 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has slid 1.1%.

Mosaic (NYSE:MOS) has potential upside of 58.7% based on a current price of $25.26 and analysts' consensus price target of $40.08. The stock should run into initial resistance at its 50-day moving average (MA) of $27.70 and subsequent resistance at its 200-day MA of $31.56.

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

Keywords: bullish am inside day candle Mosaic

Ticker(s): MOS