CF Industries Holdings Inc. - (CF) - October 12, 2021 (Daily Stock Report)

by SIACharts.com

 

 

Fertilizer producer CF Industries (CF) recently returned to the Green Favored Zone of the SIA S&P 500 Index Report for the first time since June and continues to climb toward the top of the relative strength rankings. Yesterday it finished in 17th place up 6 spots on the day and up 341 positions in the last month.

Accumulation has increased significantly over the last month in CF Industries (CF) shares which have been climbing in higher volumes. Between a spring rally and a summer correction, the shares spent six months trading in a range between $43.00 and $56.50. In the last month, the shares have regained their 50-day average, regained $50.00, snapped out of a downtrend, and broken out of their sideways channel to a new high, all combining to indicate increasing investor interest and signaling the start of a new uptrend.

Initial upside resistance appears near $70.00 based on a measured move from the previous range, followed by the $75.00 round number and then $83.50 on trend. Initial support appears between the $55.00 and the $56.50 breakout point.

 

CF Industries continues to climb up a High Pole to new highs. Last week, the shares cleared $60.00, building on a series of bullish Double Top and Spread Double Top breakouts that ended a summer correction and signaled the start of a new upleg.

Based on vertical and horizontal counts, next potential upside resistance appears near $68.00, then $75.05 and $79.65 on trend. Initial support appears near $56.90 based on a 3-box reversal.

With a perfect SMAX score of 10, CF is exhibiting 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.

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