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SmarTrend Watching for Potential Rebound in Shares of Agco Corp After 1.27% Loss

By Nick Russo

Agco Corp (NYSE:AGCO) traded in a range yesterday that spanned from a low of $65.56 to a high of $65.91. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $65.77 on volume of 146,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Agco Corp share prices have moved between a 52-week high of $69.31 and a 52-week low of $49.50 and are now trading 33% above that low price at $65.75 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.2%.

SmarTrend recommended that subscribers consider buying shares of Agco Corp on January 7th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $59.29. Since that recommendation, shares of Agco Corp have risen 12.6%. We continue to monitor AGCO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders AGCO Corp

Ticker(s): AGCO