Mosaic Is Now Displaying an Assortment of Positives

 | Nov 06, 2017 | 2:38 PM EST
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Mosaic Co. (MOS) looks like it is making a turn to the upside. Prices rallied above the 50-day moving average line in late September and the slope of this indicator has turned positive. Yes, prices are still below the declining 200-day average line but a rally to $25 would break that line.

The On-Balance-Volume (OBV) line has edged higher from a mid-August low and signals in my mind the start of more aggressive buying. The trend-following Moving Average Convergence Divergence (MACD) oscillator gave a cover shorts buy signal in late August and crossed above the zero line for an outright go long signal by late September.

The weekly bar chart of MOS, below, is still below the declining 40-week moving average line. The weekly OBV line has improved the past two months and the MACD oscillator crossed to the upside for a cover shorts buy signal on this time frame.

In this Point and Figure chart of MOS, below, we can see a recovery under way and a rally to $23.25 will refresh the uptrend and open the way to a $26.58 price target.

Bottom line: Aggressive traders could probe the long side of MOS here risking a close below $20.50 with price targets of $26.50 and then $28.

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