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Wednesday, January 7, 2009

Monsanto MON Analysis - 1/7/09 - January 7, 2009

Well, if you have been out of the office today, 1/7/09, you probably missed the Monsanto ( MON ) earnings report. Monsanto not only beat earnings estimates, the raised 2009 guidance. MON reported $1.00 per share ( .98 non gaap ) vs estimates of around .61EPS. This was a home run and the stock is hitting resistance of $85 per share.

Monsanto ( MON ) Stock Analysis - Technical Analysis - 1/07/09

Monsanto is breaking out today but hitting major resistance at $85....if you get a close over $85 at anytime, this will act as a nice support level and Monsanto will most likely go up to test the $90 level. The next major resistance level is $94.95 and $96.79. These were the two highs in October and it will be no easy task getting through this area.

With the break out this morning, there is now going to be solid support around the $80 and most importantly $75 level. I'm pretty sure the $64 bottom is now in.

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