Can I enter Monsanto as it has bounced back from near the 52-week low
- Barathkumar Neelamegam
AVOID MONSANTO ON ACCOUNT OF EXTREME VOLATILITY
Monsanto is currently trading at Rs 2579 Its 52-week high/low stand at Rs 3358/Rs 2401 made on September 17, 2018 and February 6, 2018, respectively. Considering the daily time frame, the stock witnessed a very sluggish move up to September 14, followed by volatile moves with huge candles after that, where it also hit 52-week high. After hitting 52-week high, the stock has tumbled and also breached its 100-day EMA level. It hit a low of Rs 2424 on October 25, which is near to its 52-week low level. The stock may see a reversal, but volatile volumes and 14-period RSI trailing at 42 levels do not suggest a good momentum or a consistent move upside. We suggest you to avoid for now.