Mosaic Co. (MOS) has been a strong performer recently. Prices turned up in early September and rallied like many stocks until late January. MOS declined in early February to around $24 and retested that level a couple of days later. Prices quickly rebounded to make new highs for the move up -- impressive. Let's look further.
In this daily bar chart of MOS, below, we can see that prices are above the rising 50-day simple moving average line as well as the now rising 200-day line. At the very end of 2017 you can see that the 50-day line crossed above the 200-day line for what is commonly called a golden cross. This moving average crossover is typically late but can work well when prices start a sustained trend.
The daily On-Balance-Volume (OBV) line bottomed in August-September and has trended higher since telling us the buyers of MOS have been aggressive. The trend-following Moving Average Convergence Divergence (MACD) oscillator is above the zero line and in a bullish configuration.
In this weekly bar chart of MOS, below, we can see a bullish alignment of our favorite indicators. Prices are above the rising 40-week moving average line. The weekly OBV line has been positive for more than five months and the weekly MACD oscillator is bullish.
In this Point and Figure chart of MOS, below, we can see an upside price target of $39.08. A trade at $29.22 will be a fresh breakout.
Bottom line: Traders could go long MOS either on a dip towards $26 if available or on a close above $29. The $39-$40 area is our price target and I would risk to $24.
