Fertilizer producer Nutrien Ltd. (NTR.TO) has returned to the Green Favored Zone in the SIA S&P/TSX 60 Index Report for the first time in two years after climbing 4 spots yesterday and 15 spots in the last month to 13th place.
A major breakout is underway in Nutrien (NTR.TO) shares which have built on a recent breakout over $55.00, which completed a bullish Ascending Triangle, by continuing to accelerate upward.
Initial upside resistance appears near $68.25, a resistance level that contained several advances through late 2018 and early 2019. Next upside tests on trend after that appears between the $75.00 round number and $81.50 a zone where several measured moves cluster together. Initial support moves up toward the $60.00 round number from the $55.00 breakout point.
Nutrien Ltd. (NTR.TO) recently embarked on a new upleg in its recovery trend with a breakout over $55.40 which completed a bullish Triple Top pattern to a series of positive pattern completions.
Initial upside resistance appears at previous highs between $67.50 and $68.85, followed on trend by $73.05 based on a vertical count and $79.10 based on a horizontal count. Initial support appears near $58.75 based on a 3-box reversal.
With its bullish SMAX score increasing to a perfect 10, NTR.TO is exhibiting near-term strength across the asset classes.
Disclaimer: SIACharts Inc. specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investors investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIACharts Inc. nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.