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  1. Home
  2. / Investing

Green Is the Color of Mosaic's Charts

We have two price objectives.
By BRUCE KAMICH
Dec 23, 2021 | 08:37 AM EST
Stocks quotes in this article: MOS

Mosaic Co. ( MOS) is a large fertilizer manufacturer. While we might want to eat all organic foods, the reality is that the world needs fertilizers to try to feed the 7.9 billion people on this earth. Let's check out the charts.  
 
In this daily bar chart of MOS, below, we can see that prices have not quite doubled over the past 12 months. MOS is in an uptrend and just rallied above the 50-day moving average line. MOS is also trading above the 200-day line and that indicator was successfully tested in July and August and early this month.
 
The On-Balance-Volume (OBV) line has moved up and down with the price action. The Moving Average Convergence Divergence (MACD) oscillator turned upward early this month for a cover shorts buy signal. Now the oscillator is close to crossing the zero line for an outright buy message. 
 
 
In this weekly Japanese candlestick chart of MOS, below, we can see that prices are up more than four-fold from their early 2020 nadir. MOS is trading above the rising 40-week moving average line.
 
The weekly OBV line started an uptrend in November 2020 and only now shows a two month dip. The MACD oscillator has narrowed recently and could soon cross to the upside for a new buy signal. 
 
 
In this daily Point and Figure chart of MOS, below, we can see a potential upside price target in the $46 area. 
 
 
In this second Point and Figure chart of MOS, below, we used weekly price data and here the software projects the $69 area as a target. 
 
 
 
Bottom line strategy: Traders could go long MOS at current levels risking to $30. $46 and then $69 are our price objectives. 
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TAGS: Investing | Stocks | Technical Analysis | Trading | Materials

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