There's one agriculture stock emerging from a 'corrective phase,' says Katie Stockton
The founder of Fairlead Strategies breaks down the charts on this agriculture name.
TL;DR
- Agribusiness stocks are regaining momentum, highlighted by the VanEck Agribusiness ETF (MOO) and Nutrien Ltd. (NTR).
- MOO shows improved relative performance and has cleared long-term resistance, indicating a bullish outlook.
- NTR is emerging from a corrective phase with a breakout, supported by positive intermediate-term technical catalysts.
- Both MOO and NTR have improving relative strength compared to the S&P 500, suggesting potential outperformance for the agribusiness sector.
- Technical indicators for both MOO and NTR signal renewed momentum and potential for further price appreciation.