When you thin of trading fertilizer companies you immediately think of CF Industries (CF) or Potash Corporation of Saskatchewan (POT). These have been popular with traders but if you look at their charts now you see a potential pullback in CF and POT in a broad consolidation for a very long time. But there is an opportunity in this space if you look outside of the mainstream. Agrium (AGU) is trading at 4-year highs and looks good for more. Take a look.
Agrium (AGU)
The chart for Agrium (AGU) has a lot going for it. First note that the 20-day Simple Moving Average (SMA) has been an easy indicator to use to see if the tend is higher or lower. Above the 20-day SMA and it is going higher, below it and it falls. Currently it is above it. Next, the move higher that climaxed in May pulled back to the 38.2% Fibonacci Speed Line and has bee strongly moving higher since, mainly around the 76.4% line. The steepness shows good strength. Finally the current consolidation at 106 after this run up carries a Measured Move higher to 136 on a break higher. Look for a break over 106 to add it to your portfolio.
Disclaimer: The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
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Buy Fertilizer – But Not Just Any One, Eh
Published 10/19/2012, 06:01 AM
Updated 05/14/2017, 06:45 AM
Buy Fertilizer – But Not Just Any One, Eh
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Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
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