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.