Tag Team Trade: MON and How to Use Fibonacci Analysis
Jill Malandrino of Options Profits and Carolyn Boroden of Fibonacciqueen.com team up to bring you a trade in Monsanto. We show you what fundamentals to focus on and how to use Carolyn's Fibonacci work to identify trades.
The initial stop on this trade setup could have been placed either below the low that was made into the setup zone prior to the buy trigger firing off, or just below the low end of the price cluster of support for those wanting to give it a bit more room. I would have considered myself "wrong" the trade if it took out the $69.70 swing low.
Now bringing this setup into current time, MON has made two key targets to the upside and this has been one of Jill Malandrino's favorite AG setups! Target 3 is not too far away at $106.99.