Mosaic Co. had a sharp decline to $22.02 from $53.83 (A-B) below a descending trend-line (dotted line) and its falling 40-week moving average (40wMA).
The stock then settled in a horizontal trading range mostly between $22.50 and $30.50 (dashed lines). The stock is currently trading above its newly rising average and above the falling trend-line. The recent rise above $31 (C) signalled renewed investor interest and the start of a new up-move. Only a decline below ±$27 would be negative.
Point & Figure measurements provide targets of $34 and $39. These are final targets at this time.
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
Monica Rizk
Ron Meisels