AGCO Corporation : High volumes for a reversal
Entry price | Target | Stop-loss | Potential |
---|
US$57.62 |
US$0 |
US$54.8 |
-100% |
---|
AGCO Corporation could regain its upward trend after having run out of steam.
According to Surperformance ratings, the group has strong fundamentals, both in terms of business predictability and valuation. Based on current prices, the company is valued at 0.58 times its expected sales for 2014.
Technically, the uptrend in the medium and long term should protect the stock of a major downtrend. In the short term, a decline has lead the share to the USD 56.55 support. Therefore, a technical rebound will fix an objective near the USD 60.6 short-term resistance.
Investor should buy the stock close to USD 56.55 to take advantage of a new upward acceleration in the direction of USD 60.6. A stop loss is placed under USD 56.55.
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