Mosaic showing early signs of base completion
As an extension to our recent post on the US Materials Sector, we have identified 8 US stocks which we think could strengthen in the coming months. Of particular interest is Mosaic (MOS):
Mosaic is showing signs of base completion, as prices pressure the USD31.10 range highs. Improving studies anticipate a break towards the USD34.15 retracement, with scope for extension to the USD36.95 high of November 2015. Congestion around USD25.00 should underpin any immediate setbacks as investors adopt a buy-into-weakness strategy.
Mosaic is showing signs of base completion, as prices pressure the USD31.10 range highs. Improving studies anticipate a break towards the USD34.15 retracement, with scope for extension to the USD36.95 high of November 2015. Congestion around USD25.00 should underpin any immediate setbacks as investors adopt a buy-into-weakness strategy.
