Since November 15, 2013, the Market Vectors-Agribusiness ETF (MOO) has been steadily rising with the major stock indexes. It looks as if MOO made a short term high on January 25, 2013 at $56.55 a share. The current pattern on the daily chart for MOO is not really bad, it is just a simple consolidation pattern that will most often lead to further upside. Traders should watch for an important support level for the MOO around the $53.50 level, which looks to be an important near term support level on the daily chart.
Some of the top holdings inside of the MOO include Monsanto Co (MON), Potash Corp Sask Inc (POT), and Mosaic Co (MOS). All of these stocks are holding up very well at this time, however a milder pull back on the daily charts should not be ruled out in the near term.
Some of the top holdings inside of the MOO include Monsanto Co (MON), Potash Corp Sask Inc (POT), and Mosaic Co (MOS). All of these stocks are holding up very well at this time, however a milder pull back on the daily charts should not be ruled out in the near term.
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