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.

OptionsProfits can be followed on Twitter at twitter.com/OptionsProfits

Carolyn can be followed on Twitter at twitter.com/Fibonacciqueen
At the time of publication, Jill Malandrino and Carolyn Boroden held no positions in the stocks or issues mentioned.

If you liked this article you might like

Why Bayer's $66 Billion Takeover of Monsanto Probably Won't Happen Until 2018

Hurricane Maria Has Quickly Become Another Category 5 Storm

Democrats Target Megamergers in Populist Political Play

Bayer, Monsanto Merger Under Scrutiny by EU Commission

Monsanto's Confusing Weed Killer Instructions Drive Farmers to Court