blue-chip

Business Insights on One Material Stock – NTR

Feb 08, 2024 | Team Kalkine

Read Time :10 Mins

Business Insights on One Material Stock – NTR

NTR:TSX

Investment Type

Large-cap

Risk Level

Action

Rec. Price (CA$)

Nutrien Ltd.

Company Overview:

Nutrien Ltd. (TSX: NTR) is the world's largest fertilizer producer by capacity. Nutrien produces the three main crop nutrients nitrogen, potash, and phosphate although its focus is potash, where it is the global leader in installed capacity with roughly 20% share. The company is also the largest agricultural retailer in the United States, selling fertilizers, crop chemicals, seeds, and services directly to farm customers through its brick-and-mortar stores and online platforms. This Report covers the Entry Price, Support and Resistance Level of the stock.

As per the previous Report published on “NTR” as on 19^thJanuary 2024, Kalkine provided a “Speculative Buy” stance is given on the stock at the stock price of CAD 67.46.

Noted below are the details of support and resistance levels provided in the previous report:

NTR’s Daily Chart

NTR, Daily Technical Price Chart, Source: REFINITIV; Analysis: Kalkine Group

Considering current trading levels and risks associated, it is prudent to exit at the current levels. Hence, a “Sell’ recommendation is given on the stock at the closing market price of CAD 66.91 as on 07 February 2024.

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate.

Nutrien Ltd. (TSX: NTR) is a part of Kalkine’s Daily Report

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level as on 19th January 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level which the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the Toronto Stock Exchange (TSX) and or REFINITIV. Typically, both sources (TSX and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’

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