What happens when a trade setup looks great, then completely falls apart? I am following up on five agricultural and commodity stocks I highlighted a few months ago and would like to see where they stand today.
In this update, I revisit soybeans, wheat, corn, IPI, and CF to compare the original setups with what actually happened. Some of these trades broke down after looking bullish, but that doesn’t necessarily mean the bigger setup is dead.
I’ll walk through the pullbacks, support levels, weekly moving averages, double bottoms, and trend-line breakouts I’m watching now to see if these stocks could be setting up for another move higher.
I also take a closer look at corn, where I have a position, including the sharp drop that happened after I entered and the potential snapback that followed.
The market doesn’t always move on our timeline. Sometimes a setup needs more time to develop, and I’ll show you what I’m watching to see if these agricultural stocks are starting to come back to life.
Your Profit Pilot,
TG Watkins
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