npatz_2000
Long

WYCKOFFIAN OUTLOOK ON AGCO

NYSE:AGCO   AGCO CORP
67 0 3
Possible completion of accumulation phase in AGCO             . After a TSO             (Terminal Shakeout, AKA Spring) on low volume , not ideal, we get a low volume TOS (Test of Supply) leading to a JTC (Jump the Creek) up move on increased volume indicating strength. Now getting a wide range retracement on relative low volume , indicating a lack of supply (the stock has been accumulated for the last couple of months, the "smart money" has succeeded). Now that the "smart money" has sufficiently accumulated the stock , "they" will now want to mark up the stock so that they can sell at higher prices. Ideally enter 1/3 of total position on open 1-6-15, in case there is a snap back rally to the first target @ $48.12 (wouldn't want to miss out on a quick move in case there isn't a ST             of BUTC). Then enter 1/3 on a ST             of BUTC. And finally the final 1/3 entry on NS low volume pullback after resistance at the first target. Exiting total position at second target @ $50.45, a level of significant support, likely to turn into resistance, at least temporarily. Initial stop on first 1/3 just under TSO             , then trailing stops below each successive higher low.

Keep in mind that if supply suddenly comes into the market and drives price below the TSO             on increasing volume , then that would negate the bullish outlook.
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