Tickers in this Article: MON
We've chosen to take a look at Monsanto Co. (NYSE:MON) because today's bullish price action has sent the stock above the short-term resistance of its previous swing high ($125). We not only expect that traders will keep a close eye on this stock because of the recent strength in the agriculture sector, but also because the stock is now trading in uncharted territory. As you can see from the chart below, each move above the previous high has proven to be significant and it is worth mentioning because it is a common technical buy sign. It will be interesting to see if the bulls will be able to continue pushing the stock higher and we'd expect traders to protect today's gains by setting a stop-loss order below today's high. Long-term traders will keep a bullish outlook on the stock until the price falls below the ascending trendline, which is currently trading near $110.