Monsanto to Bounce?

Shares of Monsanto MON have been in the doghouse for the better part of a year, cascading lower and lower. The stock is now well below the 50-day and 200-day moving averages, but looks like it is due for a technical bounce. Monsanto is seeing call buying on the May $60 strike as well, where 1,400 contracts were purchased right at the open today. Getting long shares here with a tight stop or a long put hedge seems like a decent trade at the moment; it is a high beta stock.