NUTRIEN LTD (NYSE:NTR) Shows Potential for a Breakout.

We've identified NUTRIEN LTD (NYSE:NTR) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NYSE:NTR for further developments.

Zooming in on the technicals.

ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.

Overall NTR gets a technical rating of 8 out of 10. Although NTR is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

• The long and short term trends are both positive. This is looking good!
• NTR is part of the Chemicals industry. There are 82 other stocks in this industry. NTR outperforms 87% of them.
• In the last month NTR has a been trading in the 48.19 - 54.10 range, which is quite wide. It is currently trading near the high of this range.
• When comparing the yearly performance of all stocks, we notice that NTR is one of the better performing stocks in the market, outperforming 78% of all stocks. However, this overall performance is mostly based on the strong move around 4 months ago.
• NTR is currently trading in the middle of its 52 week range. This is in line with the S&P500 Index, which is also trading in the middle of its range.

For an up to date full technical analysis you can check the technical report of NTR

How does the Setup look for NTR

ChartMill takes into account not only the Technical Rating but also assigns a Setup Rating to each stock. This rating, on a scale of 0 to 10, reflects the degree of consolidation observed based on short-term technical indicators. Currently, NTR exhibits a 6 setup rating, indicating its consolidation status in recent days and weeks.

NTR has an excellent technical rating, but the quality of the setup is only medium at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

Trading setups like NTR

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

More breakout setups can be found in our Breakout screener.

Keep in mind

This article should in no way be interpreted as advice. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.