We last reviewed the charts and indicators of Agco Corp. ( AGCO) back on March 23 and wrote at that time, "The charts and indicators of AGCO are pointed up with $152 and then $172 as new price targets. AGCO could show independent price strength over the next few weeks but I would not rule out a sideways consolidation before renewed gains as weakness in the broader market could turn buyers less aggressive." Prices stalled out in late April just above our $152 target and then turned lower in May as the Dow Industrials and S&P 500 suffered bouts of weakness. 
Let's check the charts again for the maker of agricultural equipment.
In this updated daily bar chart of AGCO, below, we can see that prices declined into a June low. The June low was retested in July along with the rising 200-day moving average line. AGCO rallied into August and made a slightly higher low in September, telling us that buyers of AGCO were stepping up their purchases. The On-Balance-Volume (OBV) line has moved up from May and that improvement tells us that buyers of AGCO have been more aggressive. The Moving Average Convergence Divergence (MACD) oscillator crossed to the upside for a cover shorts buy signal and looks headed for a test of the zero line.
In this weekly Japanese candlestick chart of AGCO, below, we can see that support has been developing around $120. Prices are below the 40-week moving average line, but the OBV line is very steady and the MACD oscillator is still above the zero line and narrowing.
In this daily Point and Figure chart of AGCO, below, we see the software is projecting a potential downside price target in the $115 area. A rally and trade at $130.00 should improve the picture.
Bottom line strategy: Aggressive traders could go long AGCO on strength above $130, risking to $119.
