Monday, October 20, 2008

MON to 50

I am still very bearish on MON, but I wont fight it if it wants to go up with the market. Especially since this stock has been strong than most other ags.

You can see from this chart the my conservative target is 50, a more optimistic target would be 30. It has a PE of 24 and a FPE of 17. With other growth stocks trading at 3-8 PE, this one seems veeerrrryyy overvalued.

It will be hard not to take a short here though.

Right above the declining trendline and at the 50 DMA.