Day Trade Analysis - AGCO, MOS, CAT, JOYG

Agribusiness names gapped up on the release of the USDA's bullish crop report. AGCO (agri farm equipment) had a bullish wide opening range. Price consolidated the gap through time in the upper portion of the OR at the base of the weekly pivot R2. The NRIB was the trigger. Place stop a few pennies below outside bar.

Wait for price to trade within the BB (Bolinger Band Std. dev. 2) to avoid lengthy consolidations, or worse, sling shots back to the retracement zone. Took a partial at 50% FE. Exit balance when price stalls at the whole $ level.

At the EOD, AGCO looks like a failed BO (shooting star). Expect price to retrace to gap support and possibly gap fill.

MOS - another Ag, breaks out of gap flag just below the weekly R2 and stalls, forms a handle and then goes on to extend to the measured move target.

CAT - Daily BO at $80.00. Been stalking this one a while.

JOYG was a HCPG newsletter pick at the daily spot (blue line). Here again the BB keeps us from entering until the initial breach has consolidated and JOYG is ripe to move higher. Took a partial at weekly R2.