Nutrien Ltd. (NTR.TO) is a Saskatoon-based provider of crop inputs and services, with operations spanning agricultural retail, Potash, Nitrogen, and Phosphate. Formed through the 2018 merger of PotashCorp and Agrium, the company serves agricultural markets across North America, Australia, and South America.
Nutrien currently holds the 15th position out of 62 in the Favoured Green Zone of the SIA S&P/TSX 60 Index Report. The shares have climbed two positions over the past month and 29 positions over the past quarter, indicating an improvement in relative strength within this peer group. Sector conditions are less supportive, however, with Chemicals ranked 20th out of 31 in the Unfavoured Red Zone of the SIA Sector Report.
Performance highlights the difference between Nutrien’s recent pullback and its broader gains. Over the past month, the shares declined 7.90%, compared with a 5.23% decline for the S&P/TSX 60 Index Fund. Over the quarter, Nutrien gained 11.10%, compared with 0.51% for the benchmark, while its year-to-date return of 19.09% exceeded the benchmark’s 5.50%.
On the point and figure chart, Nutrien’s most recent signal is a Spread Double Top. Near-term support is extrapolated at $99.25, followed by $89.89 and $81.42. Initial resistance is at the 3-box reversal level of $109.58, with further potential resistance at $116.28 and the all-time high resistance level of $125.87. These levels provide reference points for investment advisors in assessing whether the recent pullback stabilizes or extends.
Nutrien’s SIA SMAX score of 5/10 presents a more mixed picture of its strength against the broader asset classes. While the shares remain in the Favored Green Zone and have made substantial progress in the report over the quarter, the monthly underperformance and weaker Chemicals sector ranking temper that strength. For advisors monitoring the position, the relationship between nearby support, the SMAX score, and Nutrien’s relative ranking will help frame whether its broader improvement is holding.
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