Monsanto @ Year Lows

Published on Tuesday, 25 May 2010 11:39 Written by TradersHuddle Staff

New York, May 25th (TradersHuddle.com) - Shares of Monsanto Company (NYSE:MON) booked a new 52 week low by trading below $53, traders are definitely monitoring Monsanto's price action to see if this move attracts further selling, or it this last push down sets a tradable bottom in the stock.

Monsanto Company (NYSE:MON) principal activities are to provide agricultural products consisting of the global seeds and related traits businesses and biotechnology platforms. Its major brands include DEKALB, Channel Bio for corn, Asgrow for soybeans, Deltapine for cotton and Seminis and De Ruiter for vegetable seeds.

Monsanto is currently trading -2.21% versus its previous trading session close, and it has calculated support and resistance at $53.00 and $56.56 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range

The overall market index S&P 500 is trading lower by -2.04% from its previous trading close, which means that Monsanto stock is underperforming the overall market.