Nutrien Ltd. Stock Forecast
Weaker technical forecast for Nutrien Ltd. as stock downgraded to Sell Candidate.
(Updated on Apr 24, 2024)
The Nutrien Ltd. stock price gained 0.308% on the last trading day (Wednesday, 24th Apr 2024), rising from $71.42 to $71.64. During the last trading day the stock fluctuated 1.29% from a day low at $71.11 to a day high of $72.03. The price has fallen in 7 of the last 10 days and is down by -5.6% for this period. Volume fell on the last day by -969 thousand shares and in total, 939 thousand shares were bought and sold for approximately $67.26 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $71.54 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 10.00% during the next 3 months and, with a 90% probability hold a price between $78.69 and $86.47 at the end of this 3-month period.
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NTR.TO Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Nutrien Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $71.79 and $72.97. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -7.09%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Nutrien Ltd. stock
Nutrien Ltd. finds support from accumulated volume at $71.39 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.92 between high and low, or 1.29%. For the last week, the stock has had daily average volatility of 1.43%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NTR.TO) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Nutrien Ltd. to open at $71.59, and during the day (based on 14 day Average True Range), to move between $70.19 and $73.09, which gives a possible trading interval of +/-$1.45 (+/-2.03%) up or down from last closing price. If Nutrien Ltd. takes out the full calculated possible swing range there will be an estimated 4.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $71.39 (0.35%) than the resistance at $72.40 (1.06%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Nutrien Ltd. stock A Buy?
The Nutrien Ltd. stock holds several negative signals and despite the positive trend, we believe Nutrien Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.789 Sell Candidate Downgraded
Predicted Opening Price for Nutrien Ltd. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $71.59 ( 0.0651%) | $71.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NTR.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 72.51 | 1.22 % | |
| R2 | 72.16 | 0.728 % | ||
| R1 | 71.94 | 0.425 % | ||
| Current price: | 71.64 | |||
| Support | S1 | 71.24 | -0.556 % | |
| S2 | 71.02 | -0.86 % | ||
| S3 | 70.67 | -1.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 72.81 | 1.63 % | |
| R2 | 72.78 | 1.59 % | ||
| R1 | 72.40 | 1.06 % | ||
| Current price | 71.64 | |||
| Support | S1 | 71.39 | -0.349% | |
| S2 | 70.84 | -1.12% | ||
| S3 | 68.64 | -4.19% |
NTR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Mar 27, 2024 | Apr 11, 2024 | $0.730 | 0.98% |
| 2 | Nov 01, 2023 | Dec 28, 2023 | Jan 12, 2024 | $0.530 | 0.772% |
| 3 | Aug 02, 2023 | Sep 28, 2023 | Oct 13, 2023 | $0.530 | 0.642% |
| 4 | Jun 29, 2023 | Jun 29, 2023 | Oct 13, 2023 | $0.702 | 0.85% |
| 5 | Feb 15, 2023 | Mar 30, 2023 | Apr 13, 2023 | $0.719 | 0.739% |
FAQ
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