Agriculture Stocks Send Mixed Signals

This morning, the leading agriculture stocks are all trading higher to start the day. The Market Vectors Agribusiness ETF MOO is trading higher by 0.46 cents to $53.34 a share. The MOO is trading above all of the major daily chart moving averages which puts the stock in a strong technical position. Traders must recognize that the MOO is now getting a little extended and overbought. This tells us that a pullback or consolidation could be in the cards soon for the agriculture ETF. Short term traders can watch for intra-day resistance around the $53.50, and $54.00 levels.

Other leading agriculture stocks that are trading higher today include Potash Corp Sask Inc POT, Agrium Inc AGU, and CF Industries Inc CF. All of these stocks remain very strong on the daily charts. These stocks are now getting short term overbought and may need to pullback or consolidate soon.

Nicholas Santiago
InTheMoneyStocks.com