Monsanto 3 mon Candlestick Chart

If Monsanto $MON can hold here at $85 it has a good chance of moving higher, I’m looking for a move  at least to $90 and if it can break the previous high around 92 it has a good chance of breaking the century mark $100. and if follows POT the way it has been all year just about, look foir it to keep moving higher.

On the other hand, if the market start moving lower and starts pulling MON down with it, look for a move lower to the next stop at 77, this can also happen if POT has topped out for now, which I doubt.

If we take a look at this next chart we see that MON has started to lag behind POT since the beginning of MAY after 2 months of following and even going higher than POT at a couple of points. Whatever the case may be, read the candles, and the volume.

Volume was extremely high for MON on Friday, a day when volume was very low and trading was slow that day. In fact the last time we got that high of volume, it started moving higher the next day.