Head and Shoulders

Jrussell86 Pro+ Updated   
NYSE:AGCO   AGCO Corporation
well formed symmetrical HS on daily, forming since july. measuring rule implies 13.8% or 10.43 AFTER decisive close below neckline initial PT of $56.32 MACD trending down reinforces technical thesis. fundamentally, annual net income has decreased almost by 50% for 4 consecutive years; gurufocus' reverse DCF values at $27. https://www.gurufocus.com/dcf/AGCO
Comment: SP bounced off supply line forming double top at 75.9, retracing below the inverse head and shoulders neckline froming since 06OCT. If prices close below 200 DMA at 70.43 there will probably be further correction to neckline larger head and shoulders neckline at 65

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.