Inversed Head and Shoulders On Scott's Miracle Grow Weekly
This looks like a good summer trade, with a textbook target around 105.00 due to the pattern I picked up; but some analyst's are placing it a little lower at around 95.00 from TA signals alone. See the following from Stockinvest.US :
"Scotts Miracle-Gro Company (The) lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 9.26% during the next 3 months and, with 90% probability hold a price between $86.63 and $94.86 at the end of this period."
I don't think we could ask for a better entry because we are just above support which is 83.44, and we just confirmed the pattern with a breakout above the neck/shoulder line. This is a low volatility stock, so a long term trade shouldn't be too nerve racking; the trend should be rather slow and steady and relative risk is currently seen as low among industry professionals. At 90% probability I see this one as a gift.
This is not financial advice, and good luck on your trades.
"Scotts Miracle-Gro Company (The) lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 9.26% during the next 3 months and, with 90% probability hold a price between $86.63 and $94.86 at the end of this period."
I don't think we could ask for a better entry because we are just above support which is 83.44, and we just confirmed the pattern with a breakout above the neck/shoulder line. This is a low volatility stock, so a long term trade shouldn't be too nerve racking; the trend should be rather slow and steady and relative risk is currently seen as low among industry professionals. At 90% probability I see this one as a gift.
This is not financial advice, and good luck on your trades.
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