Friday, November 15, 2013

$AGCO Chart/Trade,...By Anthony Calhoun

Even though this stock is a $58 dollar stock (which is above my normal range) I entered it based on multiple technicals and the fact there has been big insider buying recently.  The earnings met expectations but the stock dropped over 10% with a slight revenue miss. You can read the earning transcript here.  If you follow me on twitter I have already traded this for a couple percent on the hourly chart.  But I am holding now for correction level. This stock has 5 buy ratings, 5 hold ratings, and 2 sell ratings.   This is Goldman Sachs reason for downside, but after reading the earning transcript and insider activity, and aligning technicals I am in for the swing.  Do some research, the chart is below.  Correction level if hit is about 4% trade, and on a 50% margin or better your looking at 8%+ on your cash value.
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