Daily Stock Report

Daily Stock Report - August 5, 2020 The Mosaic Company - (MOS)

Fertilizer producer The Mosaic Company (MOS) popped 13.5% yesterday after reporting earnings. On this rally, the shares jumped 149 spots in one day within the SIA S&P 500 Index Report, moving from the red zone toward the top of the Yellow Neutral Zone finishing the day four spots outside of the green zone where it hasn’t been since November of 2018. 

A breakaway gap to the upside for Mosaic (MOS) yesterday has confirmed the completion of an Ascending Triangle base and the start of a new uptrend. With the $14.00 breakout point becoming new support, the shares have rallied to test their 200-day average near $15.75. Next potential resistance appears in the $18.00 to $22.00 area, a previous trading range where multiple measured moves, previous support/resistance and the $20.00 round number cluster.  

In recent days, Mosaic (MOS) shares have come under renewed accumulation, shrugging off a June-July correction by starting off August with a bang, completing two bullish Spread Double Top patterns and climbing to their highest level since March, all signaling the start of a new upleg within a larger recovery trend. 

Potential upside resistance tests appear near $17.90 and $21.40 based on horizontal counts and previous support/resistance points. Resistance may also appear near $19.00, where a downtrend line converges with a vertical count, and the $20.00 round number. Initial support appears near $14.10 based on a 3-box reversal.  

With its bullish SMAX score increasing to 9, MOS is exhibiting near-term strength against the asset classes. 

Disclaimer: SIACharts Inc. specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investors investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIACharts Inc. nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.