March 10, 2022, 3:24 pm EST
Leaders in Agriculture: Corteva Inc (CTVA)
Corteva Inc (CTVA) is a major American agricultural chemical and seed company that was the agricultural unit of DowDuPont prior to being spun off as an independent public company in 2018.
As the war in Russia-Ukraine continues to drag longer with out-of-reach inflation, agriculture commodity becomes more important than ever. CTVA is one its of breaking out for a fresh 52-week high today with +3.4% gains as of now. Other peers are running even faster: MOS, CF, NTR, IPI.
Seed and crop protection are the keys to ensuring high productivity of agriculture products. In our opinion, food shortage and demand for efficient returns on farming business are likely to grow.
Technically, we can see three cascaded rectangles are being build-up since May 2021. By breaking out 53, CTVA is ready to start its uptrend. The entry point is 53 and the sell-stop is 49.
