CGA, Ready to Breakout

Just thought I'd cover an interesting stock I've been following. CGA is China Agriculture, a Chinese company similar to that of MOS, MON or DE and may be a good pick to benefit from the upcoming inflation move that I believe is sure to hit in the next few months.

CGA appears ready to breakout from it's second base consisting of 11 weeks. Volume dried up towards the back end of the base just before the big volume surge. Pivot point is 13.78-13.80. Watch for a break of this level on high volume some time this week or next.

See attached chart for a visual of the basing pattern. Set a buy point at around 13.89-13.92 if looking for an entry. Good Luck!



Disclosure: None

 

[fedgolfer]

Thanks, Bullitt. After watching an Oscar vid on the corn and sugar plays... I thought about capturing a quick play on POT... I was two days too late! Sounds like the Ag play is back on medium to long term though, thanks for the heads up.