Scotts Miracle Grow is up +7% and trading above $70 after a gap up this morning - trade was initiated last week on the falling wedge breakout. Gaps tend to get filled so I've adapted to the price action and moved my stop-loss order up to just below today's candle at $68.45. No way to lose money on the trade now if price reverses, upside target remains near $80....
Scotts Miracle-Gro (SMG) has only reached the cloud on a monthly chart three times in its 30+ year history on the exchange and every single time has proven to be an amazing and rare buying opportunity for long-term investors. If you're a long-term investor this could be a perfect time to cautiously dollar cost average (DCA) down. In the worst-case scenario, the...
Scotts is looking good, I think I will buy more with a tight stop watching the upward sloping resistance as a potential exit. The fertilizer market is getting ready for a rise in prices if you ask me. If anyone has any underpriced organic fertilizer companies to suggest I am open ears, that market could be even hotter. NFA, DYOR
Head's up.
Using the conservative 89 fib lookback period of the directional movement index indicator and the detrended price oscillator indicator.
This chart is in share mode.
Set crossunders on the indicators to determine take profit or stop loss.
Happy hunting!
In my opinion SMG is under the radar and an extremely strong buy for the longer term. The new stay-at-home economy and the rise of marijuana industry are big bullish tailwinds for SMG. And just look at that chart - up and to the right!
Hoping the weakness in the short term continues so I can enter a position.
Buy Targets:
Average in at $115 (lighter)
Establish...
It is unconfirmed double bottom and there is a positive divergence on rsi. Needs to break $136.06 to confirm the pattern
12 months Consensus Price Target: $124.8
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Please don't trade according to the ideas, rely on your own knowledge.
Thx
