$NTR Trading the channel and bullish confluence

NYSE:NTR   Nutrien Ltd
My largest swing following the whale buyer of 23,400 JUN 17 $80 calls on 11/18.

Love this set up.

Fundamentally - great ER beat and raise in guidance, with various BUY analyst ratings and PT $75-80. I'm bullish agriculture and fertilizer market goes hand in hand.

Technically - Moving through the upward channel, post ER algo push down, accumulation with great buy volume (usually an indication a future move to the upside will occur) on the 50EMA. MACD cross, bullish divergence on RSI and QQE momo turning to buy.

Wouldn't be surprised one more shakeout / break lower (I will add to the position) before she rips.

Noting nothing is ever certain in trading but this is a juicy swing set up with good bullish confluence I like the R/R a lot here.


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