Another Way Into Monsanto

In early July, I identified a Fibonacci price cluster setup in Monsanto (MON). The chart below shows what we were watching at that time.

Monsanto (MON) -- Daily I Source: Dynamic Trader View Chart »

Since then, Monsanto has rallied $8.30, though it has not hit a bigger-picture target, which I am still watching as a possibility. If you had used a trailing stop here, you would likely be out of the trade, as it has seen a rather healthy pullback since the July 23 high. Since the original trade setup zone is still intact, and the stock has not yet reached the upside target -- similar to a double-test of the old Netflix (NFLX) buy setup -- I am going to watch for a secondary entry against the original trade setup zone....257 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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