Monsanto' stock may soon benefit from a major support level to reach its month' high.

The company has good fundamentals. Sales are expected to grow by more than 10% in 2013 and the net margin is expected at 16.6% this year compared to 15.1% last year. The financial situation is healthy with a net treasury of 1.2 billion dollars in 2012. Eventually, EPS estimates are regularly revised upward by the Thomson Reuteurs consensus.

Technically, the trend is bullish in the medium and long term with upward oriented weekly moving averages. However, the stock has known a consolidation for 2 months and is now back to the USD 97 support, corresponding to a bullish trend line and the 50-week moving average. This threshold should be used as a stepping stone to reach USD 104.2 in the coming trading sesisons.

Thus, investors can take a long position at the current price to aim USD 104.2. A stop lost must be placed below the USD 97 suppport.