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Mosaic Co. (Friday’s close US$33.52) declined from US$86.67 in March, 2011, (not shown) to US$22.02 in February, 2016, (A) below its falling 40-week Moving Average (40wMA) and below a falling trend-line (dotted line). It then settled in a large bullish technical pattern known as a “W” formation (dashed lines).

The recent rise above the top of this pattern signalled a breakout, renewed investor interest and the start of a new up-leg (B).

Behaviour indicators including the 40-week Moving Average (40wMA) confirm the bullish status. Mosaic may have a minor pullback toward ±US$32-33, but only a decline below ±US$30 would be negative.

Point & Figure measurements provide targets of US$39 and US$44. The large “W” pattern (dashed lines) supports higher targets.

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Monica Rizk is the senior Technical Analyst and Ron Meisels is the president of Phases & Cycles Inc. (www.phases-cycles.com). And he tweets at @Ronsbriefs. They may hold shares in companies profiled.

Chart source: www.decisionplus.com

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 29/05/24 7:00pm EDT.

SymbolName% changeLast
MOS-N
Mosaic Company
-4.34%29.78

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