Nutrien is setting up a breakout/pullback setup. Notice how the stock broke out on high volume and now pulling back to test breakout support on much lighter volume.
Also, the stock is trading in ATH territories after holding above the 2018 level (Green line on the chart).
$NTR On Balance Volume indicator is one of the very very few technical indicators that I plot on my charts. In my experience, it is an excellent tool to help you gauge accumulation & distribution in a stock. For BO setups, OBV breakout before price is an indication of institutions accumulating shares. You want to focus on BO setups that has OBV trending higher or already breaking out ahead of price. That is an indication of a healthy volume pattern.
Nutrien Ltd (NTR)- MANUFACTURES FERTILIZERS AND RELATED INDUSTRIAL AND FEED PRODUCTS IN THE U.S., CANADA/TRINIDAD.
Also, the stock is trading in ATH territories after holding above the 2018 level (Green line on the chart).
$NTR On Balance Volume indicator is one of the very very few technical indicators that I plot on my charts. In my experience, it is an excellent tool to help you gauge accumulation & distribution in a stock. For BO setups, OBV breakout before price is an indication of institutions accumulating shares. You want to focus on BO setups that has OBV trending higher or already breaking out ahead of price. That is an indication of a healthy volume pattern.
Nutrien Ltd (NTR)- MANUFACTURES FERTILIZERS AND RELATED INDUSTRIAL AND FEED PRODUCTS IN THE U.S., CANADA/TRINIDAD.
✔ Momentum & Breakout Trader Since 2006 | Influenced by Mark Minervini VCP Trading Style & William O'Neil CANSLIM 📈
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✔ Follow me on Twitter @taplot - twitter.com/TaPlot
✔ YouTube channel www.youtube.com/@taplot