Scotts Miracle-Gro's Growth May Be Over

Scotts Miracle-Gro (SMG) manufactures and sells consumer lawn and garden products, and its stock price rallied about 50% in the last half of 2016. This year, however, it has pulled back from its recent highs and now is testing a six-month support line. A break below this level could retrace a significant portion of its previous gain.

Scotts Miracle-Gro (SMG)
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In June last year the stock began making a series of higher highs and higher lows above a rising 50-day moving average. However, a two-day high wick double top formed in December, and since then the stock has reversed trend. It now is trading in a wedge or symmetrical triangle formation delineated by the uptrend support line and the recent downtrend line. The stock is retesting the support line and has dropped below the now-declining 50-day average....103 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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